The Philippines is actively pursuing the integration of nuclear energy into its power mix, aiming to address rising energy demands and reduce reliance on fossil fuels. This strategic move aligns with regional efforts to diversify energy sources and promote sustainable development.
In October 2023, the APEC Business Advisory Council (ABAC) Philippines and ABAC Canada convened a roundtable to discuss the inclusion of nuclear energy in the Asia-Pacific Economic Cooperation (APEC) region's energy mix. The discussions focused on funding mechanisms and the viability of nuclear energy as a sustainable option. This initiative serves as a preparatory platform for the ABAC Sustainable Growth Working Group's presentation on nuclear energy, to be highlighted at the upcoming ABAC 4 meetings in November in San Francisco, USA. The roundtable emphasized the importance of collaboration and financing for nuclear energy transition, with industry leaders sharing insights to inform future policy decisions.
In November 2023, the Philippines and the United States signed a civil nuclear cooperation agreement, known as a 123 Agreement, facilitating the transfer of nuclear energy-related materials and components between the two countries. This agreement establishes a framework for peaceful nuclear cooperation, based on mutual commitment to nuclear non-proliferation. It enables the Philippines to access advanced nuclear technologies, including small modular reactors (SMRs), to enhance its energy security and sustainability.
Additionally, the Philippines unveiled its Nuclear Energy Roadmap at the 68th International Atomic Energy Agency (IAEA) General Conference in September 2024. The roadmap outlines the country's plan to have commercially operational nuclear power plants by 2032, with an initial capacity of at least 1,200 megawatts, gradually increasing to 4,800 megawatts by 2050. This initiative reflects the Philippines' commitment to diversifying its energy sources and reducing greenhouse gas emissions.
These developments underscore the Philippines' proactive approach to integrating nuclear energy into its power mix, aligning with regional and global efforts to promote sustainable and secure energy solutions. The ongoing discussions and agreements highlight the importance of international collaboration in advancing nuclear energy initiatives for peaceful and constructive purposes.