Thursday, February 22, 2024

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The APEC councils will hold a roundtable discussion on the feasibility of nuclear power.


A group of experts from both international and Philippine will meet on Tuesday to discuss plans for the Philippines to establish a nuclear energy sector, according to a business advisory committee.

The Aboitiz Group announced that the APEC Business Advisory Council (ABAC) Philippines and ABAC Canada will be holding a roundtable discussion to explore financing options for the development of nuclear energy.

The event will be initiated by Sabin M. Aboitiz, the CEO and president of Aboitiz Group. He is a member of ABAC Philippines and also serves as the vice chair for the ABAC Sustainable Growth Working Group.

According to Mr. Aboitiz, nuclear energy is not only a source of electricity but also a commitment to a sustainable future where advancement and environmental preservation work together.

Jan De Silva, chair of the ABAC Digital Innovation Working Group and president and CEO of the Toronto Region Board of Trade, will be joining him.

Ms. De Silva stated that after our initial roundtable, the Province of Ontario in Canada revealed their largest nuclear expansion to date. The production at the largest nuclear power plant in the world will be doubled, the oldest operating plant will undergo refurbishment, and there are plans for 4 small modular reactors (SMRs). These SMRs are considered to be the most adaptable and sustainable solutions for meeting our increasing demand for electrification.

The second meeting will act as a preparatory forum to refine the presentation for the ABAC Sustainable Growth Working Group’s discussion on the possibility of utilizing nuclear energy at the upcoming ABAC 4 conference in San Francisco next month.

The company stated that the information and conversations from this roundtable will play a crucial role in completing and enhancing the content and suggestions for the presentation.

Raphael P.M. Lotilla, the Energy Secretary, will be the main speaker at the event. He will talk about the difficulties in utilizing the full capabilities of the Philippines’ current energy sources and the exploration of new technologies to promote a cleaner and greener environment.

According to Jose M. Layug, Jr., the president of the Developers of Renewable Energy for Advancement, Inc., the Philippines must take into account the expenses associated with developing nuclear energy.

The Philippines possesses a variety of energy resources. According to a recent virtual interview, the main factor for the country is the cost. While considering nuclear energy, the question arises of its competitiveness compared to coal and liquefied natural gas (LNG).

“If this is the case, there should be no issue as long as we prioritize safety and manage the feedstock properly. The cost should also be considered and addressed,” he stated. – Sheldeen Joy Talavera