The Philippines is exploring nuclear power generation as a potential investment area for the Maharlika Investment Fund (MIF), the nation’s first sovereign wealth fund. During the Philippine International Nuclear Supply Chain Summit, Department of Energy (DOE) Nuclear Energy Division head Patrick Aquino announced plans to pitch findings from the summit’s nuclear supply chain sector business matching activities to Maharlika Investment Corporation (MIC), which oversees the MIF.
“We’ll provide them with the information from this event so they can make an informed decision on nuclear investment,” Aquino said. MIC’s initial focus has been developing transmission infrastructure in remote islands to reduce electricity costs, with its first investment expected by the fourth quarter of this year.
Energy Secretary Raphael Lotilla confirmed that MIC is studying financing strategies for nuclear energy projects, which could gradually add 1,200 MW of nuclear capacity by 2032, doubling to 2,400 MW by 2035, and reaching 4,800 MW by 2050.
In July, the Philippines and the US activated their Agreement for Cooperation in Peaceful Uses of Nuclear Energy, facilitating technology and material exchange in line with International Atomic Energy Agency (IAEA) standards. Sixteen American companies are currently exploring nuclear trade and investment opportunities in the Philippines.
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