Meralco seeks nuclear partners after stalled USNC talks

Meralco, the largest electricity distributor in the Philippines, is seeking new partners for small nuclear power plants. This comes as talks with Ultra Safe Nuclear Corp. (USNC) have stopped due to financial issues faced by USNC. Ronnie Aperocho, Meralco's executive vice president and COO, mentioned that several foreign companies are interested in developing micro modular nuclear power plants in the country. The Philippine government is eager to add nuclear energy to its power supply to reduce reliance on fossil fuels. The partnership with USNC was expected to move forward, but financial troubles led USNC to file for Chapter 11 bankruptcy last October. This process aims to facilitate the company's sale to Standard Nuclear Inc. USNC has assured that it will continue its operations and projects in the U.S. and Canada. Meralco signed an agreement with USNC last year to explore the deployment of small modular reactors (SMRs). These reactors can produce up to 300 megawatts of electricity and could provide energy security for the Philippines, particularly in remote areas. Despite interest from various parties, Aperocho noted that progress relies on new laws for nuclear energy development being passed in the Philippines. He emphasized that until then, their efforts to develop nuclear power plants can only go so far.