Korea Taps into Philippine Nuclear Power Market... Discussions on Reactivating Bataan Nuclear Power Plant

Korea-Philippines Leaders Commemorative Photo
(Phnom Penh=Yonhap News) Reporter Ahn Jung-won = On the 12th (local time), President Yoon Suk-yeol is taking a commemorative photo with Philippine President Ferdinand Marcos Jr. at a Korea-Philippines summit held at a hotel in Phnom Penh, Cambodia. 2022.11.12
jeong@yna.co.kr
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[Asia Economy Sejong=Reporter Dongwoo Lee] The Philippines, facing a power supply shortage, has requested cooperation from the South Korean government to resume the 'Bataan Nuclear Power Plant (BNPP)' project. If South Korea participates in the Bataan nuclear power plant resumption project, it is expected to gain momentum in expanding overseas nuclear power projects from the Middle East and Europe to Southeast Asia.

On the 7th, the Ministry of Trade, Industry and Energy announced that Cheon Young-gil, Director General of the Energy Industry Office, met with Mark O. Cojuangco, Chairman of the Philippine Nuclear Energy Special Committee, at The Plaza Hotel in Jung-gu, Seoul. This was a follow-up to the discussion between the two countries' leaders last month on the need for nuclear cooperation, including the resumption of the Bataan nuclear power plant construction.

Chairman Cojuangco emphasized, "The Philippines is pursuing policies to strengthen the role of nuclear power in response to climate change and the energy crisis," and added, "Korean cooperation is needed in the process of conducting a technical feasibility verification related to the resumption of the Bataan nuclear power plant construction."

In response, Director General Cheon said, "South Korea is also promoting a realistic and harmonious energy mix through the normalization of nuclear power policy and reasonable dissemination of renewable energy," and added, "South Korea, which has the capability to complete nuclear power plants on schedule, is the optimal cooperation partner."

Philippine President Ferdinand Marcos is pushing for the operation of nuclear power plants to solve the country's power supply shortage. The Bataan nuclear power plant was started in 1976 by the American nuclear company Westinghouse and most of the construction was completed in 1984. However, after the 1986 Chernobyl nuclear accident, its operation was canceled and it has not been operated for 36 years.

Previously, in 2017, Korea Hydro & Nuclear Power conducted a feasibility study with the Philippine Department of Energy to resume the Bataan nuclear power plant project, estimating that restoration work necessary for reactivation could be done at a cost of about 1 billion dollars. There is also potential for a Small Modular Reactor (SMR) project. Given the Philippines' characteristics as an archipelago, installing SMRs with capacities ranging from 10 megawatts (MW) to 300 MW is advantageous.

If South Korea wins the contract for the Bataan nuclear power plant resumption project, it is expected to boost the Yoon Suk-yeol administration's overseas nuclear power drive. This year, Korea Hydro & Nuclear Power has shown achievements in overseas nuclear projects, including winning the 3 trillion won Egypt El Dabaa nuclear power plant project in August and signing a Letter of Intent (LOI) with the Polish Power Company in October for the construction of a nuclear power plant in the Pomtnoof region.