According to a fact sheet sent by the US embassy in the Philippines, the US and Philippines have opened talks on a civil nuclear cooperation agreement “to support expanded cooperation on zero-emission energy and nonproliferation priorities.”
Also known as the “123 Agreement,” the US embassy said it would help both countries achieve their energy security and climate goals, as well as provide commercial opportunities for the private sector. “In the area of nuclear power, there have been new technologies developed that allow smaller scale modular nuclear plants and other derivations thereof. Once again, PPPs will play a part in support as funding in this period is limited,” Mr. Marcos said in hisLast week, Energy Secretary Raphael P.M. Lotilla urged the National Power Corp. to consider tapping modular nuclear reactors to supply electricity to remote areas.
Meanwhile, the US Department of Energy, US State Department and Philippine Department of Energy will also establish an Energy Policy Dialogue, “a high-level platform for the two nations to develop new forms of energy cooperation, including on short and long-term energy planning, oThe US will also team up with Lopez-led Energy Development Corp. to develop a geothermal project in Mindanao.
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