AboitizPower, Korea Hydro & Nuclear Co. ink accord for nuke energy cooperation

Aboitiz Power Corporation (AboitizPower) is partnering with Korea Hydro & Nuclear Power Co. Ltd. (KHNP) to explore cooperation on nuclear energy technologies as the Philippines forays into adding nuclear power into the power mix.

In a news release on Wednesday, AboitizPower announced it signed a memorandum of understanding (MOU) with KHNP at the Korean firm’s headquarters in Gyeongju, South Korea last July 31, 2026.

Under the MOU, AboitizPower and KHNP agreed to pursue joint pre-feasibility studies, information sharing, and capacity-building activities related to nuclear technologies.

AboitizPower clarified that the agreement is exploratory and non-exclusive, and creates no binding obligations for either party.

The MOU was inked by AboitizPower chief corporate services officer Carlos Ramon Aboitiz and KHNP senior executive vice president for the Business Development and Management Division Il-kyung Choi.

Also present during the signing ceremony were AboitizPower president and CEO Danel Aboitiz, Department of Energy (DOE) Secretary Sharon Garin, and National Power Corporation president and CEO Jericho Jonas Nograles.

"Building on KHNP's extensive experience and technical expertise gained through construction and operation of nuclear power plants both in Korea and overseas, we look forward to working closely with AboitizPower to support the Philippines' energy transition,” said Choi.

“This MOU marks a meaningful step in AboitizPower’s efforts to understand nuclear energy’s potential contribution to the Philippines’ energy security and reliable baseload capacity. Nuclear energy is complex and highly regulated, and any future role for it must be grounded in rigorous technical assessment and strong regulatory oversight,” said Aboitiz.

“We see significant value in learning from KHNP’s decades of experience and we look forward to working alongside the Department of Energy to responsibly assess nuclear energy’s role in the country’s energy future,” added Aboitiz.

Garin, for her part, said the signing of MOU between AboitizPower and KHNP marks a “significant milestone.”

“The transition toward a secure, clean, and reliable energy future cannot be achieved by government alone. It requires strong public-private coordination and the exchange of best practices across borders with experienced industry leaders such as KHNP,” said the Energy chief.

AboitizPower is one of the Philippines’ largest private energy companies with a diversified portfolio spanning thermal, hydropower, solar and geothermal generation, as well as energy storage systems, contributing to the stable and reliable supply of electricity across the country.

KHNP, on the other hand, is the largest electric power generation company that generates approximately 32.76% of the total electricity in South Korea.

The company operates 26 nuclear power plants, 21 hydropower plants (excluding small-scale facilities), and 16 pumped storage hydropower plants across the country.

KHNP delivered the Barakah Nuclear Power Plant in the United Arab Emirates and is currently advancing the construction of a new nuclear power plant in Dukovany, the Czech Republic. —RF, GMA News