Philippines, South Korea to Study Bataan Nuclear Plant Rehabilitation

(Bloomberg) -- The Philippines and South Korea agreed to conduct a feasibility study on the possible rehabilitation of the Southeast Asian nation’s mothballed nuclear plant.

The Philippines’ Department of Energy and Korea Hydro & Nuclear Power Co. Ltd. signed a memorandum of understanding on the study of the plant, located in Bataan north of the capital, on Monday during South Korean President Yoon Suk Yeol’s visit to Manila.

The agreement shows Philippine President Ferdinand Marcos Jr.’s plan to explore the revival of the controversial facility built during the term of his late father and dictator and which has remained idle for about four decades. 

The move by the Philippines to reconsider nuclear power also underscores rising global interest in the stable, round-the-clock energy source as countries attempt to meet rapidly rising energy demands while also reducing dependence on fossil fuels to slash emissions. 

The feasibility study on the nuclear plant will start in January, the Philippines’ Department of Energy said in a separate statement. The study will assess the facility’s condition before evaluating if it can be refurbished. 

Korea Hydro and Nuclear Power, which was part of the group that earlier studied the plant, could recommend alternatives including the construction of a conventional plant or the development of a small modular reactor if rehabilitation isn’t advisable, according to the agency.

The Philippines aims to integrate nuclear power in its energy mix as it seeks to diversify its energy sources and boost energy security. It targets to have its first nuclear power plants operational by 2032, with an initial capacity of 1,200 megawatts.

The two nations also signed agreements on maritime cooperation and tourism. Marcos, in his address after the signing ceremony, said he agreed to strengthen strategic cooperation with South Korea, as his nation contends with lingering tensions with Beijing in the South China Sea.

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