Philippines explores up to $5 billion U.S. loan for nuclear power rollout

Philippine energy officials disclosed that the United States may provide a loan of up to $5 billion to support the country's nuclear power ambitions, with a target to commission the first plant by 2032. DOE undersecretary Giovanni Bacordo reported a recent meeting with the U.S. International Development Finance Corp., which suggested a 25-year repayment window for private utilities seeking to develop nuclear capacity. Earlier, the U.S. Trade and Development Agency granted $2.8 million in technical assistance to Manila Electric Co., the leading proponent of the nuclear plan.

Bacordo also noted ongoing collaboration with the Asian Development Bank to ensure that credit enhancements meet bankability standards. Industry insiders warned that deployment timelines for micro-modular and small-modular reactors, projected for 2028 and 2030 respectively, still depend on licensing, demonstration and delivery progress.