MANILA Electric Co. (Meralco) and unit Meralco PowerGen Corp. (MGen) have signed an agreement with US-based engineering firm Sargent & Lundy to undertake a feasibility study for the potential deployment of small modular reactors (SMRs) in the Philippines.
In a statement on Tuesday, MGen said this marked the next step in a $2.80-million technical assistance program funded by the US Trade and Development Agency (USTDA) that was announced in February. The study is targeted for completion by the fourth quarter of 2027.“Partnering with Sargent & Lundy marks a pivotal step in turning our nuclear road map into actionable, data-driven decisions under our Nuclear Energy Strategic Transition program,” MGen President and CEO Emmanuel Rubio said.“As we advance this USTDA-funded study, we remain committed to exploring safe, reliable and low-carbon technologies such as SMRs as we work to secure the Philippines’ long-term energy future and support the country’s economic growth,” he added.Sargent & Lundy will lead a vendor-neutral, US-focused SMR assessment program aligned with relevant International Atomic Energy Agency standards and international best practices.It will examine key considerations for potential SMR deployment, including technology assessment and site selection, grid integration, financial and commercial planning, decision-making frameworks, and stakeholder capacity-building.The engagement is also expected to help strengthen the technical capacity of key Philippine stakeholders — including MGen, the Department of Energy and the Philippine Atomic Energy Regulatory Authority — by providing practical frameworks and tools that could support informed decision-making as the country advances its nuclear energy road map.Meralco shares on Tuesday dropped P21.20, or 4.61 percent, to close at P438.80 apiece.