Meralco PowerGen Corp. (“MGen” or the “Grantee”) invites the submission of qualifications and proposal data (collectively referred to as the “Proposal”) from interested U.S. firms that are qualified based on experience and capability to perform technical assistance (“TA”) related to the deployment of a small modular reactor (“SMR”) nuclear power plant by MGen (the “Project”) in the Philippines. The Proposal deadline is Monday, February 23 at 9 a.m. Eastern Standard Time/ 10 p.m. Philippines Standard Time. The U.S. firm selected will be paid in U.S. dollars from a $2,768,400 grant to MGen from the U.S. Trade and Development Agency.
About the Grantee
MGen is the power generation subsidiary of Meralco and would serve as the Grantee for the TA. MGen, through its power generation subsidiaries Global Business Power Corp., MGen Renewable Energy Inc., and PacificLight Power Pte. Ltd., has a gross total power generation capacity of 2,425 MW across coal, liquified natural gas, diesel, and solar technologies, with the goal of adding 1,500 MW of renewable energy to its current portfolio in the coming years. Meralco, the largest private sector electric distribution utility company in the Philippines covering 39 cities and 72 municipalities, provides a diverse segment of the energy supply chain, including engineering design services, construction and consulting services, payment fulfilment and bills collection services, after-the- meter and energy management services, as well as telecommunication and information technology services. Meralco holds a significant (80 percent) market share over electricity distribution in the Philippines.
Project Background
The Philippines is recognized as one of the most vibrant, dynamic, and rapidly growing economies in Southeast Asia. The Philippines saw growth of 5.6 percent in gross domestic product (“GDP”) in the country for 2024, with the Asian Development Bank estimating a slight uptick to 6 percent in 2025. Over the forthcoming decade, the Philippine economy is anticipated to experience robust expansion, driven by escalating private consumption, rising urban household incomes, and increased manufacturing output. By 2030, the nation’s GDP is forecast to reach $800 billion, nearly doubling the country’s 2023 GDP of $440 billion. To support this growth and meet the country’s associated energy demands, the Government of the Philippines (“GoP”) estimates that approximately 22 gigawatts (“GW”) of additional generating capacity will be required by 2030, and 121 GW will be required by 2050 overall. Currently, coal and fossil fuels constitute the bulk of electricity production in the Philippines, comprising approximately 78 percent of the overall electricity mix as of 2022. Coal, specifically, continues to dominate the country’s energy mix and contributes to approximately 60 percent of total power generation.
As part of its ambitious energy goals, the GoP has prioritized nuclear energy in the Philippine Energy Plan (“PEP”) as a means to diversify the nation’s energy mix, achieve emission reduction targets, and bolster energy security. Additionally, the 2023-2050 PEP includes the objective of commissioning at least 4.8 GW of nuclear energy capacity by 2050. To advance this objective, the DOE established the Nuclear Energy Program (“NEP”) and the Nuclear Energy Program Implementing Organization (“NEPIO”) in 2016, tasked with evaluating the feasibility of incorporating nuclear power into the country’s energy generation portfolio. Since its inception, the NEPIO has been actively working to develop a foundational regulatory framework, in line with International Atomic Energy Agency (“IAEA”) infrastructure requirements, that outlines a long-term roadmap and action plan for nuclear energy deployment in collaboration with the IAEA and other relevant international bodies. In 2025, the GoP passed legislation governing nuclear energy under the PhilATOM Bill and is establishing a regulatory authority (The Philippine Atomic Energy Regulatory Authority) to oversee nuclear power generation, and provide training and information to regulators, operators, and technical support organizations on nuclear safety.
Reflecting the Philippines’ nuclear energy goals, the GoP and the United States Government formalized an Agreement for Cooperation in Peaceful Uses of Nuclear Energy, commonly known as a 123 Agreement, during the Asia-Pacific Economic Cooperation Summit in November 2023. This agreement, which went into effect in July 2024 following U.S. congressional approval, established a legal framework for the export of nuclear materials, equipment, and technology from the United States to the Philippines. The agreement will facilitate the exchange of advanced nuclear technology and expertise and enhance the Philippines’ ability to develop and operate an NPP while adhering to stringent nonproliferation and safety standards set by the IAEA. Additionally, the 123 Agreement will promote economic growth in the Philippines through technology transfers and investments, creating opportunities for U.S. firms and supporting the development of Philippine energy infrastructure. In this context, U.S. nuclear technology firms have actively pursued potential business opportunities in the Philippines.