Korea Hydro & Nuclear Power signs MOU with Philippines' Aboitiz Power to expand nuclear cooperation

Korea Hydro & Nuclear Power has agreed to expand nuclear power plant project cooperation with one of the Philippines' leading energy companies.

The state-run nuclear operator announced Wednesday that it signed a memorandum of understanding with Philippine energy firm Aboitiz Power on Friday at its headquarters in Gyeongju.

Aboitiz Power is one of the Philippines' largest private energy companies, operating a diverse mix of generation sources including thermal, hydroelectric, solar and geothermal power. The company plays a central role in the country's stable electricity supply through power generation, distribution and retail.

The signing ceremony was attended by Choi Il-kyung, head of KHNP's project management division; Aboitiz Power President Danell Aboitiz; Philippine Energy Secretary Sharon Garin; and Jerry Nograles, president of the state-owned Power Sector Assets and Liabilities Management Corporation.

Under the MOU, the two companies agreed to cooperate on exchanging information related to nuclear technology, conducting preliminary feasibility studies for new nuclear power plants, and running education programs, seminars and working-level consultations.

"It is meaningful that we have laid the groundwork for nuclear power project cooperation in the Philippines through this MOU," Choi said. "We will work closely with Aboitiz Power, drawing on the unrivaled experience and technological expertise KHNP has built through nuclear power plant construction and operation at home and abroad, to contribute to the Philippines' energy transition."