KHNP and Aboitiz Power Sign MOU on Nuclear Power Cooperation

Korea Hydro & Nuclear Power (KHNP) announced on August 5 that it recently signed a Memorandum of Understanding (MOU) on nuclear power business cooperation with Aboitiz Power Corporation, a major private energy company in the Philippines, at its headquarters in Gyeongju, Korea. The two parties will strengthen cooperation around the development of nuclear power projects in the Philippines, advancing the exchange of nuclear technology information and preliminary studies for new nuclear power plant construction.

At the signing ceremony, Choi Il-kyung, Head of Business Operations at KHNP, and Carlos Ramon Aboitiz, Head of Corporate Support at Aboitiz Power, signed the document on behalf of their respective companies. Also present at the ceremony were Danel Aboitiz, President of Aboitiz Power, Philippine Energy Secretary Sharon Garin, and Jerico Nograles, President of the National Power Corporation (NPC) of the Philippines.

Under the MOU, the two companies will expand cooperation in the nuclear power business sector, including the exchange of information related to nuclear technology, joint preliminary feasibility studies for new nuclear power plants, the organization of training courses and seminars, and the establishment of a working-level consultation mechanism. This cooperation means that the two parties will engage in communication on technical solutions, commercial viability, and project implementation conditions at the early stage of introducing nuclear power to the Philippines.

In recent years, the Philippines has identified nuclear energy as one of the key directions of its energy policy, aiming to enhance energy security and reduce dependence on fossil fuels amid sustained growth in electricity demand. The Philippine government and power companies are advancing foundational work for nuclear energy development, including potential site surveys, regulatory framework improvements, and professional capacity building.

Aboitiz Power's business covers power generation, distribution, and retail electricity sales, operating a diverse portfolio of thermal, hydroelectric, solar, and geothermal power sources. This cooperation enables KHNP to establish communication channels at both the government level and with a major private power company in the Philippine nuclear power market, helping to further expand its local business foundation.

Against the backdrop of ongoing overseas nuclear power projects, KHNP is strengthening its engagement with Southeast Asian countries in the nuclear power sector. The focus of future cooperation between the two parties may cover nuclear power plant construction, operation and maintenance, and personnel training, providing preliminary support for the development of future nuclear power projects in the Philippines.

Carlos Ramon Aboitiz stated that signing the MOU is an important first step for both parties to jointly understand and explore the potential of nuclear energy, helping to study the role of nuclear power in enhancing the Philippines' energy security and ensuring a stable supply of baseload electricity. Choi Il-kyung stated that the agreement lays the foundation for cooperation between the two parties in the Philippine nuclear power business, and that KHNP will leverage its experience in nuclear power plant construction and operation to collaborate with Aboitiz Power in supporting the Philippines' energy transition and stable power supply.