The United States and the Philippines have signed a historic nuclear energy cooperation agreement during the Asia-Pacific Economic Cooperation (APEC) summit, paving the way for the development of nuclear energy in the Philippines. U.S. Secretary of State Antony Blinken stated that the agreement allows the United States to export nuclear technology and materials to the Philippines for the joint development of small modular reactors and other civil nuclear infrastructure.
Negotiations began in November 2022, and the agreement, known as the "123 Agreement," requires approval from the U.S. Congress. It involves the peaceful transfer of nuclear materials, equipment, and information, strictly adhering to non-proliferation requirements. As of the end of 2022, the United States has signed 23 similar agreements with 47 countries, the International Atomic Energy Agency, and Taiwan.
Philippine President Ferdinand Marcos Jr. announced that the Philippines plans to incorporate nuclear energy into its energy mix by 2032 to replace coal-fired power, achieve climate goals, and enhance energy security. This signals a reconsideration of previous attempts at nuclear energy, which were interrupted due to safety concerns, potentially including the restart of the mothballed Bataan Nuclear Power Plant.
Secretary of State Blinken emphasized that this is the fastest completion of a 123 Agreement in history. He also highlighted that as the Philippines moves toward its 2030 climate targets, nuclear energy will become a reliable and carbon-free form of electricity, providing sufficient power to communities without emitting additional greenhouse gases.
Previously, the Philippines attempted to advance nuclear energy, but efforts were interrupted due to safety concerns, regime changes, the Chernobyl nuclear disaster, and corruption allegations. President Marcos has expressed the possibility of reactivating the Bataan Nuclear Power Plant, which was shut down two years after its completion in 1984.
This nuclear energy cooperation agreement is seen as a new milestone in the collaboration between the U.S. and the Philippines, providing crucial support for the Philippines to achieve sustainable energy and climate goals.
