Aboitiz Power intensifies pitch for nuclear power
By Myrna M. Velasco – February 15, 2023, 3:01 PM
from Manila Bulletin
Aboitiz Power Corporation is intensifying its pitch for nuclear as a pathway for the Philippines to achieve decarbonization, that in turn, will aid the world in combating climate change risks.
In a presentation at the APEC Business Advisory Council (ABAC), Aboitiz Group First Vice President and Chief Reputation & Sustainability Officer Ginggay Hontiveros primarily sounded off their company’s particular interest on small modular reactors (SMRs), which can be deployed in the range of 10 megawatts to 300MW configuration, and are ideal to cater to the energy needs of off-grid domains.
On the core investment trajectory of the Aboitiz group, there is no definitive blueprint cast yet on nuclear power investments; although company executives indicated that they have had preliminary discussions with American firms NuScale and Rolls-Royce for opportunities on this technology deployment space.
Being the biggest power generator with massive fleet of coal plants, Aboitiz Power is being prodded to take aggressive steps on lowering its carbon footprints, similar to what other corporate environment offenders have been doing in various parts of the world.
In advancing its inclination for nuclear deployment, the executive of the Aboitiz group cited that investment into nuclear could yield high profits to investors and it is a technology that is not also hurdled by cyclical weather patterns.
In harmony to that, Hontiveros reiterated that the ABAC’s Sustainable Growth Working Group “recognizes nuclear energy’s viability to fuel the energy transformation of society given its high energy return on investment (EROI) and its weather independence.”
She similarly gave a glimpse of “opportunities and potential challenges” if the Philippines will take serious steps into its nuclear renaissance pathway.
“Research and technical development with key stakeholder groups and subject matter experts are paramount to the success of energy transformation,” she stressed.
Hontiveros similarly conveyed the long-time crusade of many companies in the Philippines for the energy sector to finally clean its acts – chiefly to support global goals of limiting temperature warming to 1.5 degrees C – as missing that target will mean catastrophic future for the entire humanity.
On that score, Hontiveros has called on ABAC to “democratize information” on climate risks as well as the gaps experienced by countries on pursuing their decarbonization strategies.
“The climate threat is a shared risk and responsibility. A unified platform for free data on climate risk scenarios that helps one economy would help all,” the Aboitiz executive noted.
