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US nuclear energy firm keen to invest in PH, says Palace

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ABS-CBN News

MANILA (UPDATE) - A US-based nuclear energy firm is keen on investing in the Philippines, the Palace said, after it met with President Ferdinand Marcos Jr. in Washington D.C.The Presidential Communications Office said in a statement early Tuesday morning (Manila time) that NuScale Power Corporation is planning to conduct a study to locate a site in the Philippines. The Oregon-based firm is known for developing a small nuclear power system, described as safe, modular, and scalable. <blockquote class="twitter-tweet">Muling nakipagpulong si Pangulong Ferdinand R. Marcos Jr. sa pamunuan ng NuScale Power Corporation, isang small nuclear power system developer sa Estados Unidos, ngayong araw ika-1 ng Mayo. <a href="https://t.co/qhTzKzuL0m">pic.twitter.com/qhTzKzuL0m</a>— Presidential Communications Office (@pcogovph) <a href="https://twitter.com/pcogovph/status/1653057679668154368?ref_src=twsrc%5Etfw">May 1, 2023</a></blockquote><div><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script></div>NuScale executive vice president for business Clayton Scott said the company has “very high confidence that our technology will perform as expected,&quot; referring to its small modular reactor technology.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/05/01/23/marcos-back-in-us-for-weeklong-official-visit">Marcos back in the United States for weeklong official visit</a></li></ul>He said small modular reactor technology is the first and only one of its kind to receive design approval from the US Nuclear Regulatory Commission.The Palace said NuScale may likely invest $6.5 billion to $7.5 billion in the Philippines to provide 430MW to the country by 2031.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/05/02/23/marcos-jr-says-ph-us-need-to-strengthen-ties">In meeting Biden, Marcos Jr. says PH, US need to strengthen ties</a></li></ul>The Philippines and the US, meanwhile, have agreed to set up a ministerial team on agricultural cooperation to put focus on food efficiency and security.Marcos said the meeting with USDA was important “simply because there are things that we are hoping to be able to partner with the United States when it comes to the agricultural sector.”The administration is seeking to boost agriculture research for development, advancement of biotechnology agenda in the country, and expand market access of Filipino agricultural products to the US, the Palace said.

The Oregon-based firm is known for developing a small nuclear power system, described as safe, modular, and scalable.