PH, IAEA discuss financing for nuclear energy push

The Philippines has started to explore funding strategies and infrastructure development for potential nuclear power projects, as representatives of the government and the private sector, as well as international experts gathered in Manila for a workshop on Nuclear Power Infrastructure and Financing.

According to the Department of Energy (DOE), the National Workshop on Nuclear Power Infrastructure and Financing in Manila focused on identifying viable financing models and addressing the regulatory and technical challenges regarding the integration of nuclear power into the national energy mix.

The workshop was organized through the initiative of the Nuclear Energy Program Inter-Agency Committee (NEP-IAC) led by the Department of Energy from October 20 to 24, 2025, and attended by experts from the International Atomic Energy Agency (IAEA).

“As the first financing workshop with the IAEA, this marks another important step in our country’s continuing efforts to explore the potential of nuclear power as a viable option in achieving energy security, economic development, and a sustainable future for the Philippines,” Energy Undersecretary Giovanni Carlo Bacordo was quoted as saying in a statement released Sunday.

“This workshop will help us chart a clearer pathway forward — one that balances ambition with prudence, and innovation with responsibility,” he added.

Citing the IAEA, the DOE said that while various financing models such as lending or borrowing money are available, strong involvement of the government is essential, particularly with respect to financing structure and risk management.

This comes as the IAEA has revised its global nuclear electric capacity projections for 2050, expecting the nuclear electric capacity to increase by 160% or 992 gigawatts (GW) globally from 377 GW at the end of 2024 in the high-case scenario, and by 50% to 561 GW globally in the low-case scenario.

The DOE earlier said the Philippines is among the leading countries in Southeast Asia when it comes to preparations for building a nuclear power plant, as it now has a nuclear division and a roadmap reviewed by the IAEA.\

President Ferdinand “Bongbong” Marcos Jr. last month signed the creation of an independent agency that will focus on the safe use of nuclear energy and radiation sources in the country.

The Nuclear Energy Program-Inter-Agency Committee (NEP-IAC) in August also started its comprehensive review of the country's current nuclear laws, regulations, and policies as the government explores possibilities in nuclear energy development. —Jon Viktor Cabuenas/RF, GMA Integrated News