A South Korean firm has offered to revive the Bataan nuclear power plant (BNPP), according to the Philippine Nuclear Research Institute (PNRI).
PNRI director Dr. Carlo Arcilla said at the Powertrends 2023 International Business Forum in Makati City yesterday, Korea Hydro and Nuclear Power (KHNP), a subsidiary of the Korea Electric Power Corp. sent the offer citing it has an operational plant that is the exact model of BNPP.
According to Arcilla, the Korean firm said it can revive BNPP in five years “as it is still intact.”
KHNP estimates it will require $1.19 billion to revive BNPP.
Arcilla said the BNPP is the fastest way to achieve President Ferdinand Marcos Jr.’s goal of having a nuclear power plant before the end of his term.
“…other options are available but (they) will have to go through more processes,” Arcilla said.
Arcilla said the government may opt to lease or sell BNPP to the private sector, preferably a local company.
The Department of Energy earlier this week, said the government also received an offer from the Chinese government for a possible nuclear energy cooperation. Last November, the Philippines and the United States also initiated talks on a civil nuclear cooperation deal.
