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Manila Electric Co. , in partnership with US-based Ultra Safe Nuclear Corp. , plans to build 5 to 10-megawatt micro modular reactor facility as part of its plan to venture into nuclear energy.
“So as we dive deep into the safety, financial and site selection parameters, our goal is to build a capacity of five to 10-megawatts and have some sort of proof of concept that will help us convince Filipino people that nuclear energy is safe, reliable, cheap and clean source of base load power,” Aperocho said.
Meralco chairman and chief executive Manuel Pangilinan reiterated during the stockholders meeting the company’s target to register P40-billion core net income for 2024, up from P37 billion last year. He said while the decline in Meralco’s share price could be partly due to the downturn in the local equities market, there is a need to communicate to investors about the prospects of the company.
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