An American company producing nuclear power is partnering with ultra bilyonaryo Enrique K. Razon to bring a new energy source into the Philippines.
President Ferdinand Marcos Jr. met with executives of NuScale Power Corporation in Washington, D.C. Monday (May 1) to discuss investment prospects in the Philippines. The Oregon-based firm is known for developing small modular reactors which can supply electricity to remote areas.
NuScale’s technology is certified by the US Nuclear Regulatory Commission. The company is looking to invest anywhere between $6.5-7.5 billion (P360-415 billion) to supply 430 megawatts of nuclear power in the Philippines by 2031.
NuScale has chosen Razon’s Prime Infrastructure Capital as its Philippine partner. Razon has been investing in renewable power and built solar farms in Batangas and Cavite in 2022. He also owns MORE Power which distributes electricity in Iloilo.