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Negotiations for the 123 Agreement started in November 2022.
US Congress approval is needed for the deal, which will allow a peaceful transfer of nuclear material, equipment and information in adherence with non-proliferation requirements.
What a 5-nation military exercise says about US strategy in the Indo-Pacific
What a 5-nation military exercise says about US strategy in the Indo-Pacific
As of end-2022, the US had 23 agreements covering 47 countries, the International Atomic Energy Agency, and democratically governed Taiwan.
The Philippines wants to tap nuclear power as a viable alternative baseload power source as it seeks to retire coal plants to help meet climate goals and boost energy security. The Southeast Asian nation is vulnerable to volatile global oil prices, seasonal power outages, and high electricity rates.
Previous attempts to pursue nuclear energy in the Philippines were halted over safety concerns, but Marcos has discussed the possibility of reviving a mothballed nuclear power plant, built in response to an energy crisis during the rule of the late Philippines strongman and his namesake father.
Completed in 1984, the Bataan Nuclear Power Plant was mothballed two years later following the ouster of the older Marcos, the deadly Chernobyl nuclear disaster, and corruption allegations.
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