AboitizPower, KHNP launch Philippine nuclear energy studies

Aboitiz Power Corp. has signed a memorandum of understanding with South Korea’s Korea Hydro & Nuclear Power Co. Ltd. to jointly study the potential deployment of nuclear energy in the Philippines, advancing efforts to assess nuclear power as a future source of reliable baseload electricity.

The studies could help determine whether nuclear power can be developed safely and economically enough to strengthen Philippine energy security, with any eventual decision carrying implications for electricity reliability, system costs, regulatory oversight, and public safety.

The agreement was signed July 31 at KHNP’s headquarters in Gyeongju, South Korea.

It covers joint pre-feasibility studies, information sharing, and capacity-building activities involving nuclear technologies.

The MOU is exploratory and non-exclusive and does not create binding obligations for either company, meaning it does not constitute a commitment to build or operate a nuclear power facility.

Energy Secretary Sharon Garin, National Power Corp. President and CEO Jericho Jonas Nograles, AboitizPower President and CEO Danel Aboitiz, AboitizPower Chief Corporate Services Officer Carlos Ramon Aboitiz, and KHNP Senior Executive Vice President Il-kyung Choi witnessed the signing.

Carlos Ramon Aboitiz said the partnership would allow the company to deepen its understanding of how nuclear energy could fit into the Philippine power system.

“This MOU marks a meaningful step in AboitizPower’s efforts to understand nuclear energy’s potential contribution to the Philippines’ energy security and reliable baseload capacity,” he said.

“Nuclear energy is complex and highly regulated, and any future role for it must be grounded in rigorous technical assessment and strong regulatory oversight,” he added.

KHNP said it intends to contribute experience gained from nuclear projects in South Korea and overseas.

“Building on KHNP’s extensive experience and technical expertise gained through construction and operation of nuclear power plants both in Korea and overseas, we look forward to working closely with AboitizPower to support the Philippines’ energy transition,” said Il-kyung Choi.

Garin described the agreement as a milestone in the country’s energy transition and stressed the role of public-private cooperation and international partnerships in evaluating nuclear energy.

The Philippine government has been developing a nuclear energy roadmap that targets at least 1,200 megawatts of nuclear generation capacity by 2032 and as much as 4,800 MW by 2050. The Department of Energy has said the program follows the International Atomic Energy Agency’s Milestones Approach and requires work across 19 nuclear infrastructure issues.

The regulatory framework has also advanced with Republic Act 12305, or the Philippine National Nuclear Energy Safety Act, signed Sept. 18, 2025. The law created the Philippine Atomic Energy Regulatory Authority, or PhilATOM, as an independent regulator with jurisdiction over the safe and peaceful use of nuclear energy and radiation sources.

The DOE has acknowledged that nuclear development also presents major economic challenges, including high upfront project costs, financing requirements, workforce needs, and global supply chain constraints. These factors make early technical and economic studies important before companies or the government move toward investment decisions.

KHNP is South Korea’s largest nuclear power generation company and operates 26 nuclear generating units, alongside hydropower and pumped-storage facilities. Its generation portfolio totaled 26,050 MW of nuclear capacity as of Dec. 31, 2025.

KHNP’s international experience includes the Barakah Nuclear Power Plant in the United Arab Emirates, where a Korean consortium with KHNP in a joint project management role constructed four APR1400 units. The four units entered commercial operation in phases from April 2021 to September 2024.

The company is also involved in a new nuclear power project in the Czech Republic. KHNP signed the final contract in June 2025 for two reactors at the Dukovany site and established a local construction office, while Czech authorities said in June 2026 that the project remained in a roughly four-year preparatory phase covering design, licensing, permitting, and infrastructure needed before full construction.