📋 Tender Overview
Department of Energy Secretary Raphael Lotilla said his department tapped the Maharlika Investment Corporation (MIC) to study financing schemes that can be used to advance the governments plan to include nuclear power in the countrys energy mix. As the President pointed out, we still have to... the financing part is still being studied and the costings. We dont know the amounts yet. We have asked the Maharlika to look, to study the costing and what financing mechanisms might be available, Lotilla said at the sidelines of the Philippine International Nuclear Supply Chain Summit held in Quezon City on Wednesday. Because Maharlika has people who are studying financing in the energy sector. So we have requested them to do the studies on how to finance because as the President pointed out, this is one area which needs to be studied further by the Philippines on how to go about what are the modes of financing available and how to go about financing. In his speech, Lotilla said the government intends to integrate nuclear technologies in the countrys energy mix beginning with the introduction of an initial nuclear energy capacity of 1,200 megawatts (MW) by 2032, expanding to 2,400 MW by 2035, and to reach 4,800 MW by 2050. Lotilla said the DOE is interested in exploring financing mechanisms that would allow the government to manage the significant upfront costs of nuclear energy projects. He said this would allow the government to spread these over a longer period of time. This approach would not only make these investments more manageable but also promote intergenerational equity ---ensuring that the financial burden is shared fairly between current and future generations who will benefit from the long-term advantages of nuclear energy, Lotilla said. Asked for comment, MIC president and chief executive officer Rafael Consing Jr. told the Philippine News Agency that the MIC is still gathering data, and collecting experiences from other countries.
