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Philippines looking at Chinese investors for cooperation on nuclear energy

By JON VIKTOR D. CABUENAS, GMA Integrated News, January 9, 2023 The Philippines is banking on Chinese investors to participate in the planned venture into nuclear energy, along with cooperation in other areas such as renewable energy, the Department of Energy (DOE) said Monday…………………………………..

The briefing was made after a state visit by President Ferdinand “Bongbong” Marcos Jr. to Beijing, China last week, where Malacañang said he secured $13.76-billion worth of investments in the energy sector.

………………………………… Malacañang last week said the government is set to update its nuclear energy roadmap, with Marcos pushing for its adoption in a bid to lower power rates.

The President, along with his running mate Vice President Sara Duterte, have been pushing for the adoption of nuclear energy, which they said would lower electricity rates and help secure a steady power source.

His predecessor, former President Rodrigo Duterte, last March issued Executive Order 164, directing the conduct of relevant studies for the adoption of a National Position for a Nuclear Energy Program.

The DOE in November said, however, that the Philippines will have to wait a decade to see a working nuclear power plant given the time needed for feasibility studies and other factors.

“At this point we cannot say how fast they (Chinese commitments) will be implemented but the President has committed that he’s going to make sure that there will be a systematic handholding of investors,” Lotilla said……   https://www.gmanetwork.com/news/money/economy/856790/philippines-looking-at-chinese-investors-for-cooperation-on-nuclear-energy/story/

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January 11, 2023 - Posted by | Philippines, politics international

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