US, Philippines sign a nuclear cooperation pact allowing US investment, technologies

abcnews.go.com:

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

MANILA, Philippines — 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