The Philippines is taking the lead in Southeast Asia’s nuclear energy push, driven by its strong policy commitment and growing technical expertise, according to research and analysis firm BMI.
The Fitch Solutions unit said the Philippines, alongside Vietnam, emerged as regional leaders in terms of readiness for a nuclear energy program amid widespread interest among members of the Association of Southeast Asian Nations (ASEAN).
‘We believe there could be opportunities for an accelerated deployment given the Philippines’ capabilities and experience,’ BMI said in a report.
The Philippines is home to Southeast Asia’s only existing nuclear facility, the Bataan Nuclear Power, which was never commissioned due to safety and political issues.
In a renewed push to integrate the technology into the power mix, the Philippines aims to have at least 1,200 megawatts of commercially operational nuclear plants by 2032.
‘The Philippines has reaffirmed its policy direction toward nuclear development to meet its rapidly growing energy demand and reduce reliance on fossil fuels,’ BMI said.
‘Critically, we highlight that the Philippines is a signatory to all major safety, security, safeguards and liability instruments, demonstrating its comprehensive engagement with the international nuclear governance framework,’ it said.
President Marcos recently signed into law a measure establishing the country’s first independent nuclear regulatory body.
The Philippines has also secured a seat at the policy-making Board of Governors of the International Atomic Energy Agency for the term 2025 to 2027.
‘This regulatory maturity, combined with concrete policy support and established institutional capacity, positions the Philippines as the frontrunner in ASEAN’s nuclear race,’ BMI said.
Across Asia, the report also emphasized that the growing power demand, grid bottlenecks and rising energy stability needs are turning the region into a global hotspot for nuclear development.
Electricity demand in Asia is forecast to increase at an annual average of 3.8 percent through 2034, driven by economic growth, electrification, building and transport sectors and data centers.