Power Shortages Put Nuclear Energy Back at the Philippines’ Energy Focus

Bataan, Philippines - September 24, 2026 — As other countries continue to expand their nuclear energy programs, the Philippines faces recurring power shortages, with yellow and red alerts declared across various regions. According to global statistics platform Worldometer, the country generates approximately 124 TWh of electricity annually, while neighboring countries such as Vietnam and Indonesia each produce over 300 TWh—more than twice the country’s total generation.

This highlights a growing need for the Philippines to diversify its energy sources and keep up with the increasing demand for electricity. Long regarded as the least prioritized source and subject to safety concerns, nuclear energy is again becoming relevant to the country's energy discussions as another viable option within the national grid, given the changes in the modern energy landscape. 

The reconsideration signals the push to reopen the Philippine Nuclear Power Plant (PNPP) in Bataan, which has been untapped for decades since its completion. The reopening of the said facility can further strengthen the country's energy mix, while also moving forward with other nations. Otherwise, the prolonged opening process of the facility could delay the Philippines' broader energy ambitions and even put the country behind amid the global shift toward nuclear energy.

Carrying the hopes of recommissioning the PNPP at an urgent time, Pangasinan 2nd District Representative Congressman Mark O. Cojuangco, a leading nuclear energy advocate and chairman of the Special Committee on Nuclear Energy, emphasized that the firm push to open the PNPP can help strengthen the energy mix amid the growing demand for electricity in the Philippines.

“Nuclear energy plays an essential role in addressing the country's increasing energy demands; that’s why we are determined to reopen the Philippine Nuclear Power Plant. If it keeps getting delayed, we’re missing the opportunity to establish another source of reliable energy when the country needs it most,” Cojuangco said.

Cojuangco also pointed to nuclear power plants in the United States, such as Palisades and Watts Bar, to highlight the potential of reassessing existing nuclear facilities, including the PNPP.

“Countries like the United States are demonstrating that nuclear power plants with decades-long histories can still contribute to their energy needs. The Palisades Nuclear Plant, which ceased operations in 2022, is now being prepared for a restart, while the Watts Bar Nuclear Plant overcame significant construction delays and setbacks and remains operational today. These examples highlight the need for the Philippines to explore the potential of recommissioning the PNPP. We should assess whether this existing facility can be safely and feasibly brought into operation to help address our growing energy demands, rather than leave a potential energy asset untapped,” Cojuangco said.

Alpas Pinas, a non-stock, non-profit organization dedicated to promoting nuclear energy as a clean and sustainable source of power, also underscored the urgency of PNPP's reopening. Gayle Certeza, PhD, lead convenor of Alpas Pinas, stressed that continued delays can leave the Philippines behind other countries that are now increasingly turning to nuclear power.

“The Philippines cannot afford further unnecessary delays in pursuing nuclear power, as we risk falling behind our regional neighbors and losing an opportunity to strengthen our long-term energy security,” said Certeza. “The PNPP was completed in 1985 and could have been Southeast Asia’s first nuclear power plant. Today, countries like Bangladesh, Vietnam, Indonesia, and Malaysia are moving forward with their nuclear energy plans, while the Philippines continues to weigh its options. We must take decisive steps toward developing nuclear power to ensure that our country is not left behind and can secure a reliable, sustainable energy future.”

As the Philippines seeks to meet the rising energy demand, several members of Congress have expressed support for integrating nuclear power into the country's energy plan, particularly Occidental Mindoro Representative Cong. Odie Farreila; Masbate 2nd District Representative Cong. Olga Kho; Zamboanga del Sur 1st District Representative Cong. Joseph Kim Yu; Southern Leyte 2nd District Representative Cong. Coco Yap; KAPUSO PM Partylist Representative Cong. Munir Arbison Jr.; and Valenzuela 1st District Representative Cong. Kenneth Gatchalian.

Through congressional support, the ongoing deliberation of the Philippine Nuclear Energy Act (House Bill 08567), and renewed attention to the opening of the PNPP, these efforts signal the Philippines’ potential to advance toward greater energy security and nuclear development alongside other nations.

Vena Energy Honored as Outstanding Stakeholder by DepEd Calbayog City

[Philippines; 23 September 2026] Vena Energy has been recognized as an “Outstanding Stakeholder” by the Department of Education (DepEd), Schools Division of Calbayog City, in recognition of its support for education and community development. The award was presented during the annual Stakeholders Summit.

The recognition was presented at the Calbayog City Convention Center. The annual summit brings together educational leaders, local government officials, and private sector partners to recognize collaborative efforts to enhance the quality of education in the region.

Vena Energy, a leading renewable energy company, was recognized for its “invaluable support, meaningful partnership, and significant contributions to advancing education and strengthening stakeholder engagement in Calbayog City.”

In an invitation sent prior to the event, Dr. Margarito A. Cadayona Jr., Ph.D., Schools Division Superintendent, highlighted Vena Energy’s contributions through its subsidiary, Gemini Wind Energy Corp. (GWEC), and their role in supporting the local education community.

Marivic Acuyong, CSR Manager at Vena Energy, and Falconeri Miranda, Project Manager at GWEC, accepted the award on behalf of the company. Their participation reflected Vena Energy’s continued partnership with DepEd Calbayog City and the local community.

“Receiving this recognition is meaningful to the entire Vena Energy team,” said Samrinder Nehria, Head of the Philippines, Vena Energy. “Our commitment to the communities where we operate goes beyond providing clean energy. We believe that supporting education helps create opportunities for young people and contributes to stronger communities. This recognition from DepEd Calbayog strengthens our commitment to supporting students, teachers and schools through sustained and meaningful partnerships.”

Vena Energy’s participation in the Stakeholders Summit reflects its broader commitment to creating long-term positive social impact in the communities where it operates. The recognition also underscores the value of collaboration between the public and private sectors in supporting education and creating opportunities for young people.

DepEd Calbayog expressed its continued gratitude to all stakeholders, emphasizing that strong partnerships and support systems contribute to the successful delivery of educational programs in Samar.

Security Bank Refinances 17.4 MW Hermosa Solar Plant

Makati City, Philippines — Security Bank Corporation (PSE:SECB) is supporting renewable energy development in the Philippines as the sole lender for the 17.4 MW Solana Solar Beta, Inc.’s (“SSBI”) Solar Power Project (the “Project”) in Hermosa, Bataan, supplying electricity to Peninsula Electric Cooperative, Inc. (“PENELCO”).

Developed by SSBI, part of CN Green Roof Asia (“Green Roof Asia”), the Project is expected to generate approximately 35.5 gigawatt-hours of electricity annually and supplies 10 MW of equivalent generation under a 20-year power supply agreement with PENELCO. Green Roof is grateful for the opportunity to supply PENELCO with renewable energy to meet the energy needs of its customers in the province.

The transaction is the Bank’s first partnership with Climate Fund Managers, a climate-focused blended finance investment manager, and Norfund, the Norwegian investment fund for developing countries - two globally recognized institutions working to mobilize capital for sustainable infrastructure across emerging markets.

The Bank provided a project refinancing facility, with Security Bank Capital Investment Corporation acting as arranger and the Bank’s Trust and Asset Management Group serving as Facility Agent and Security Trustee. The Omnibus Loan and Security Agreement was signed on May 26, 2026, and the loan disbursement was completed on June 25, 2026.

“Electric cooperatives play an important role in delivering electricity to communities across the country,” said Yvonne Marcelo, EVP and Corporate Banking Group Head at Security Bank. “Through this transaction, we are supporting the delivery of additional renewable energy capacity in Bataan while establishing our first partnership with Climate Fund Managers and Norfund. As sole lender, we continue to support investments that contribute to the expansion of renewable energy infrastructure in the Philippines.”

"We are pleased to partner with Security Bank on this transaction, which demonstrates the growing role local financial institutions can play in supporting renewable energy infrastructure in the Philippines," said Ryan Oetama, Investment Director at Climate Fund Managers. "The financing of the Bataan solar project reflects increasing confidence in renewable energy as an attractive investment opportunity that can deliver both commercial returns and positive environmental impact."

“This transaction augments a niche renewable energy supply segment in the Philippines, a core market and a meaningful strategy for Norfund. It will help meet a larger share of domestic energy demand, improve energy security, and increase diversification in both the provincial and national energy mix at a much-needed time. We are grateful to our JV partners in Climate Fund Managers and congratulate Green Roof Asia for delivering this project for its host community. We look forward to working with Security Bank on more transactions in the Philippines,” said Felix Barwinek, Senior Investment Manager at Norfund.

“This refinancing is an important milestone for Green Roof Asia in the Philippines as it demonstrates that well-structured renewable energy projects continue to attract strong financial backing, allowing us to continue to develop, construct, and deliver reliable clean energy infrastructure across Southeast Asia. We look forward to supporting more electric cooperatives and meeting their growing demand,” said Steve Rawles, CEO at CN Green Roof Asia.

Financing renewable energy for electric cooperatives

Security Bank’s participation supports the financing of renewable energy projects serving electric cooperatives, a segment with limited participation from local banks.

PENELCO, the Project’s offtaker, has a peak demand of approximately 148 MW and serves customers across multiple barangays and municipalities in Bataan.

The Project is connected to PENELCO’s distribution system through an embedded connection, enabling the delivery of renewable energy within the cooperative’s service area.

Part of a regional renewable energy platform

The Project forms part of Green Roof Asia’s portfolio of solar developments across Southeast Asia, covering rooftop and utility-scale systems.

Green Roof Asia is a joint venture between Climate Fund Managers’ EU-supported Climate Investor One Fund and Norfund.

Climate Fund Managers raises and deploys blended climate finance funds, working in partnerships to deliver climate mitigation and adaptation solutions in Asia, Africa and Latin America. Norfund’s mandate is to invest in businesses that support sustainable development and the transition to net zero.

A growing renewable energy portfolio

The transaction adds to the Bank’s growing renewable energy portfolio, reflecting its participation in financing 24 renewable energy developments nationwide that collectively represent 4.30 GW of installed capacity. It also contributes to the Bank’s broader sustainable finance portfolio, which reached PHP116.95 billion in total disbursements as of May 2026.

By financing renewable energy projects and expanding partnerships with institutions committed to sustainable development, Security Bank continues to support renewable energy infrastructure in the Philippines.