Meralco Small Modular Reactor Program
Feasibility study anchoring Meralco’s 1,200 MW SMR target for 2032
Project Information
Sector
Energy
LEC Node
OT — site not yet determined
Project Typology
Power Infrastructure — Nuclear (SMR), Feasibility Stage
Opportunity Type
Investors, Suppliers
Opportunity Value
Not Yet Disclosed
Project Overview
Meralco PowerGen Corp. (MGEN) is targeting up to 4,800 MW of nuclear capacity by 2050, anchored by a first tranche of 1,200 MW by 2032. These projects mark the Philippines’ first step into nuclear power, backed by a U.S. Trade and Development Agency (USTDA)-funded adoption study.
The Proponent
MGEN, the unlisted generation subsidiary of Meralco, launched its Nuclear Energy Strategic Transition program in April 2025, pairing a U.S. Small Modular Reactor (SMR) track with a Korea Hydro and Nuclear Power financing memorandum of understanding (MOU).
Highlights
Luzon peak demand is forecast at 15,683 MW in 2026, growing 5.4% to 6.7% annually through 2030. Tightening reserve margins have also increased the need for firm baseload capacity. The study proceeds under the U.S.-Philippines 123 Agreement and Republic Act No. 12305’s newly finalized licensing roadmap.
The Opportunity
MGEN is seeking vendor and technology partners as the USTDA’s contractor selection and SMR adoption study advance. Upon completion, MGEN will initiate a financing roadmap and seek investment partners.
Have a Project in Mind?
Talk to our team about opportunities across energy, manufacturing, logistics, and more in the Luzon Economic Corridor.