A major Thai agriculture company plans to invest an additional PHP1 billion in Central Mindanao's…
US nuclear energy company rumored to invest $7.5 billion in PH
Following a meeting with President Ferdinand R. Marcos Jr. in Washington, D.C., a leading nuclear energy company with headquarters there expressed interest in investing in the Philippines, Malacaang reported on Tuesday.
The Presidential Communications Office estimates that Oregon-based NuScale Power Corporation, renowned for creating a secure modular and expandable small nuclear power system, will invest USD6.5 billion to USD7.5 billion to supply the nation with 430 megawatts by 2031.
According to Marcos, the “shortfall in power supply” might be resolved with NuScale’s assistance.
“Everything is necessary. The president declared, “We must have everything, and this new technology is something.
NuScale stated during the meeting that it intended to research and find a site in the Philippines.
NuScale’s executive vice president for business, Clayton Scott, expressed assurance that the company’s small modular reactor (SMR) technology would function as anticipated.
The US Nuclear Regulatory Commission has granted design certification for the company’s SMR, making it the first and only of its kind.
It already has projects running in the US state of Utah, Romania, Indonesia, and Poland that offer customers sustainable energy that is safe, dependable, and competitively priced.
Enrique Razon, who represented Prime Infrastructure Capital, Inc., was NuScale’s local partner.
Speaker of the House Martin Romualdez, Secretaries of Trade Alfredo Pascual and Energy Raphael Lotilla, Secretaries of Communications Cheloy Garafil, and Philippine Ambassador to the United States Jose Manuel Romualdez attended the meeting with Marcos.
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