Current:Home > ScamsUS and Philippines sign a nuclear cooperation pact allowing US investment and technologies -AssetLink
US and Philippines sign a nuclear cooperation pact allowing US investment and technologies
View
Date:2025-04-17 03:07:02
MANILA, Philippines (AP) — The United States and the Philippines have signed a nuclear cooperation pact under which U.S. investment and technologies are to help the Southeast Asian nation transition to cleaner energy and bolster its power supply.
Philippine President Ferdinand Marcos Jr. witnessed the signing of the deal by his energy secretary and U.S. Secretary of State Antony Blinken on Thursday on the sidelines of the Asia Pacific Economic Cooperation summit in San Francisco.
“We see nuclear energy becoming a part of the Philippines’ energy mix by 2032 and we are more than happy to pursue this path with the United States as one of our partners,” Marcos said at the signing ceremony.
He said the pact, known as a Section 123 agreement, would support the development of reliable, affordable and sustainable power in the Philippines. It will also open doors for U.S. companies to invest and participate in nuclear power projects, he said.
Blinken said negotiations with the Philippines were completed within a year, the fastest for a Section 123 agreement, which is required under the U.S. Atomic Energy Act to allow the transfer of nuclear equipment and material for peaceful uses.
He noted that the Philippines has set an ambitious target of cutting greenhouse gas emissions by 75% by 2030. With its peak energy demand expected to quadruple by 2040, nuclear energy will help it meet its needs in a sustainable way, he said.
“With access to U.S. material and equipment, the U.S. and the Philippines will be able to work together to deploy advanced new technologies, including small modular reactors, to support climate goals as well as critical energy security and baseload power needs within the Philippines,” he said.
“In a nation of more than 7,000 islands, small modular reactors -– some just the size of a city bus -– can generate energy locally and conveniently,” he added.
The Philippines began building a nuclear generating plant, the Bataan Nuclear Power Plant, in the 1970s but it was never completed after questions were raised about its cost and safety, including its location near a major fault and the Pinatubo volcano.
The United States has 23 Section 123 agreements in force that govern peaceful nuclear cooperation with 47 countries, the International Atomic Energy Agency and Taiwan.
___
Ng reported from Kuala Lumpur, Malaysia.
veryGood! (77)
Related
- The company planning a successor to Concorde makes its first supersonic test
- Rascal Flatts guitarist Joe Don Rooney sets 'record straight' on transitioning rumors
- United Arab Emirates acknowledges mass trial of prisoners previously reported during COP28
- Ryan and Trista Sutter's 2 Kids Are All Grown Up in Rare Appearance at Golden Bachelor Wedding
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Boeing still hasn’t fixed this problem on Max jets, so it’s asking for an exemption to safety rules
- A drug cartel has attacked a remote Mexican community with drones and gunmen, rights group says
- Tax season can be terrifying. Here's everything to know before filing your taxes in 2024.
- 'We're reborn!' Gazans express joy at returning home to north
- Scores dead in Iran explosions at event honoring general killed by U.S. drone strike
Ranking
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- Nigel Lythgoe stepping aside as ‘So You Think You Can Dance’ judge after sexual assault allegations
- Carnival begins in New Orleans with Phunny Phorty Phellows, king cakes, Joan of Arc parade
- To plead or not to plead? That is the question for hundreds of Capitol riot defendants
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Fire in Elizabeth, New Jersey: Massive blaze engulfs industrial warehouse: See photos
- I took a cold shower every day for a year. Here's what happened.
- Crocodile launches itself onto Australian fisherman's boat with jaws wide open
Recommendation
Why members of two of EPA's influential science advisory committees were let go
Global food prices declined from record highs in 2022, the UN says. Except for these two staples
Alaska's snow crab season canceled for second year in a row as population fails to rebound
A Peloton instructor ranted about how she disliked the movie Tenet. Christopher Nolan, the film's director, happened to take that class.
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Five NFL players who will push teams into playoffs in Week 18
Fight at Philadelphia train station ends with man being fatally struck by train
NRA chief, one of the most powerful figures in US gun policy, says he’s resigning days before trial