The Manila Electric Company (Meralco), the Philippines' largest electric distribution utility, and South Korea's Doosan Enerbility Co., Ltd. have signed a memorandum of understanding (MOU) to explore strategic collaborations on developing low-carbon energy projects in the Philippines.
The MOU aligns with their respective commitments to driving innovation and sustainability in the energy industry.
The partnership between Meralco and Doosan will focus on several key initiatives, such as the potential deployment of nuclear power facilities in the country, including rehabilitating the Bataan Nuclear Power Plant (BNPP).
"It has always been Meralco's commitment to proactively support the Philippine government's thrust to achieve energy security, which is crucial to our national development," Meralco chairman and chief executive officer Manuel V. Pangilinan, who led the ceremonial signing of the MOU, said.
He continued, "Partnering with reputable and dependable companies like Doosan aligns well with our pursuit to continuously explore innovative energy solutions that we can adopt as we work towards ensuring the availability of sufficient, affordable, and reliable power to meet our country's long-term goals."
In addition, Meralco and Doosan will also study the use of small modular reactors (SMRs) to help meet the country's growing power demand and achieve long-term energy security.
To help reduce carbon emissions, Meralco and Doosan will work together on possibly deploying greenhouse gas reduction equipment, such as ammonia co-firing technology, for aging thermal power plants.
The MOU also covers the possible development and supply of gas turbines for combined cycle power projects of Meralco's subsidiaries. Doosan is these projects' engineering, procurement, and construction (EPC) contractors.
Doosan Enerbility's Vice Chairman Yeonin Jung said: "Our partnership with Meralco marks a significant milestone in advancing energy innovation and sustainability in the Philippines. By working together on transformative projects, this collaboration will contribute to the modernization of the country's energy infrastructure and help ensure a stable and long-term supply of clean, reliable power. We are committed to being a strong and dependable partner to the Philippine power sector, supporting its continued growth and development."
The partnership comes as the Philippines and South Korea agreed to conduct a feasibility study on the revival of the Bataan Nuclear Power Plant (BNPP). The MOU between Meralco and Doosan was presented during the Philippines-Korea Business Forum, which forms part of the South Korean President and part of the recent state visit of South Korean President Moon Suk Yeol in Manila.
Reinforcing the Philippines and Korea's shared commitment to sustainable development and energy security, Meralco actively participates in nation-building by addressing the country's energy challenges with meaningful partnerships and innovative projects.
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