With its hands full on multi-billion dollar nuclear power projects it won in the Middle East, Korea Electric Power Corporation (KEPCO) has reportedly signified to the government that it may no longer be able to undertake full investment for proposed nuclear power projects in the country.

“Kepco, from the start, has not been interested to invest in nuclear in the Philippines,” disclosed Pangasinan Rep. Mark O. Cojuangco, who recently met with the Korean firm’s executives in Seoul to discuss proposals on the Philippines’ nuclear renaissance aspiration.

Save for intensive capital infusion, it was noted though that Kepco would be willing to help the Philippine government in other areas – such as in feasibility studies or other parameters where its nuclear operations expertise might be needed.

It can be culled that Kepco also aided NPC in the required feasibility study that shall lay the groundwork for the propounded re-powering of the mothballed Bataan Nuclear Power Plant. A pending legislative bill prescribes that the investment cost of the facility’s rehabilitation might not go beyond $1 billion; which Kepco tried to work out in the FS.

State-run National Power Corporation (NPC) previously revealed an interest of a Korean company investing in a nuclear power project in the country.

This was later unveiled as the prospective purchase and transfer of a nuclear power facility of Korea Peninsula Energy Development Organization (KEDO), which is currently under KEPCO’s safekeeping.

Cojuangco noted that while Kepco may not be able to come in as front-runner investor, its help might be needed at the operations front, if the targeted deal for the KEDO facilities be consummated.

Since the nuclear projects would involve their technology, he noted that Korean companies may be tapped as sub-suppliers, the likes of KEPCO, Doosan Heavy Industries & Construction, Korea Nuclear Fuel Company and Hyundai Construction, among others.

The country’s nuclear aspirations dated back to the 1980s and it could have been way ahead of South Korea had not been for the decision of the Aquino administration then to mothball the BNPP. Because of that policy misdirection then, the country was also plunged into its worst power crisis resulting in massive economic and opportunity losses.

With the country’s electricity infrastructure always threatened by supply shortages, proposals for nuclear power as a long-term option has been gaining ground anew.