Aboitiz Power Corporation (AboitizPower) signed a Memorandum of Understanding (MOU) with Korea Hydro & Nuclear Power Co., Ltd. (KHNP) at KHNP headquarters in Gyeongju, South Korea on July 31 to explore cooperation on nuclear energy technologies and their potential applicability in the Philippines.
The ceremony was attended 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 who signed the MOU for their respective companies. Present also were AboitizPower President and CEO Danel Aboitiz, Department of Energy (DOE) Secretary Sharon Garin, and National Power Corporation President and CEO Jericho Jonas Nograles.
Under the MOU, the two companies agreed to pursue joint pre-feasibility studies, information sharing, and capacity-building activities related to nuclear technologies. The agreement is exploratory and non-exclusive, and creates no binding obligations for either party.
“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 Il-kyung Choi.
For AboitizPower, the agreement provides an opportunity to deepen its understanding of nuclear energy and its potential role in the Philippine power sector.
“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,” shared Carlos Ramon Aboitiz.
“Nuclear energy is complex and highly regulated, and any future role for it must be grounded in rigorous technical assessment and strong regulatory oversight,” he added. “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.”
Secretary Garin underscored the importance of collaboration in advancing the country’s energy transition.
“Today’s signing of the 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,” she asserted.
AboitizPower is one of the Philippines’ leading 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 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. It successfully 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
