ABOITIZ Power Corp. (AboitizPower) has signed a preliminary agreement with Korea Hydro & Nuclear Power Co., Ltd. (KHNP) to study the feasibility of nuclear energy projects in the Philippines, as the country’s largest private power producer assesses the potential role of nuclear power in its long-term generation portfolio.

In a statement on Wednesday, AboitizPower said it signed a memorandum of understanding (MoU) with KHNP to explore cooperation on nuclear energy technologies and their potential application in the Philippines.

The agreement covers joint pre-feasibility studies, information sharing, and capacity-building activities related to nuclear technologies. AboitizPower said the MoU is exploratory and non-exclusive, with no binding obligations on either party.

KHNP, South Korea’s largest power generator, operates 26 nuclear power plants, 21 hydropower plants, and 16 pumped-storage plants, supplying about 32.76% of the country’s electricity generation.

“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, KHNP senior vice-president for the business development and management division.

For AboitizPower, the partnership is intended to deepen its understanding of nuclear energy and its possible role in the country’s power sector. The company’s move comes as the Philippines continues to examine a range of options for expanding and diversifying its power supply, with nuclear energy remaining a highly regulated pathway that requires technical assessment and regulatory oversight before any project can advance.

“Nuclear energy is complex and highly regulated, and any future role for it must be grounded in rigorous technical assessment and strong regulatory oversight,” said Carlos Ramon Aboitiz, AboitizPower chief corporate services officer.

“We see significant value in learning from KHNP’s decades of experience and we look forward to working alongside the Department of Energy to responsibly assess nuclear energy’s role in the country’s energy future,” he added.

Energy Secretary Sharon S. Garin, who witnessed the signing, said advancing nuclear energy would require close coordination between the government and the private sector, as well as collaboration with experienced international industry partners.

AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services.

The Aboitiz Group is the country’s largest private power producer, with an installed capacity of 6,850.63 megawatts, representing a 24.3% market share, according to data from the Energy Regulatory Commission. — Sheldeen Joy Talavera