Philippines and Canada Strengthen Economic Ties with $2.5B Investment Commitments
The Department of Trade and Industry (DTI) is exploring a potential partnership with Canadian nuclear technology firm AtkinsRéalis to advance civil nuclear energy solutions for the Philippines.This collaboration aims to support the country's transition to cleaner energy sources by leveraging proven nuclear technologies.
Trade Secretary Cristina Roque and Finance Secretary Frederick Go met with AtkinsRéalis executives to discuss safe and commercially viable nuclear technologies that could integrate into the Philippines' long-term energy mix.
The Montreal-based company presented its CANDU EC6 nuclear reactor technology as a potential option, which uses natural, unenriched uranium and heavy water.DTI highlighted that 31 commercial CANDU reactors have been built globally, including in Canada, Argentina, China, Romania, and South Korea.The meeting occurred during President Ferdinand Marcos Jr.'s official visit to Canada.
The Department of Energy (DOE) has outlined plans for commercially operational nuclear power plants by 2032, targeting an initial 1,200 megawatts in the power mix, with projections to reach 4,800 megawatts by 2050.Potential sites for nuclear plants include Bataan, Labrador in Pangasinan, Camarines Norte, Puerto Princesa in Palawan, and Masbate.This initiative reflects the Philippines' commitment to diversifying its energy portfolio and reducing reliance on fossil fuels.
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