Meralco partners with South Korean firm to explore development of energy projects
MANILA Electric Co. (Meralco) has entered into a strategic partnership with South Korea’s Doosan Enerbility Co., Ltd. to explore collaborations on developing low-carbon energy projects in the Philippines, including the rehabilitation of the mothballed Bataan Nuclear Power Plant (BNPP).
Meralco and Doosan Enerbility signed a memorandum of understanding (MoU), which will focus on several key initiatives, such as the potential deployment of nuclear power facilities, the power distributor said in a statement on Wednesday.
The two companies will also study the use of small modular reactors to help meet the country’s growing power demand and achieve long-term energy security.
The companies are looking at the possible deployment of greenhouse gas reduction equipment, such as ammonia co-firing technology, for aging thermal power plants.
The MoU also covers the possible deployment and supply of gas turbines for combined cycle power projects of Meralco’s subsidiaries, with Doosan to serve as the engineering, procurement, and construction contractor for these projects.
“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,” Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan said.
Doosan Enerbility Vice-Chairman Yeonin Jung said that the collaboration is expected to contribute to the modernization of the Philippines’ energy infrastructure and help ensure a stable and long-term supply of power.
“We are committed to being a strong and dependable partner to the Philippine power sector, supporting its continued growth and development,” he said.
The partnership comes after the Department of Energy and Korea Hydro & Nuclear Power Co., Ltd. inked an MoU to conduct a comprehensive technical and economic feasibility study on the potential rehabilitation of the BNPP.
“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,” the power distributor said.
Doosan Enerbility was founded in 1962 and has supplied integrated solutions in the fields of power generation, energy, and desalination plants in 40 countries around the world.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
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