Facebook Pixel Nuclear vs. renewables: The battle for financing | Manila Bulletin - newspaper - Lee esta historia en Magzter.com
Vuélvete ilimitado con Magzter GOLD

Vuélvete ilimitado con Magzter GOLD

Obtenga acceso ilimitado a más de 9000 revistas, periódicos e historias Premium por solo

$149.99
 
$74.99/Año

Intentar ORO - Gratis

Nuclear vs. renewables: The battle for financing

Manila Bulletin

|

September 7, 2025

While the Philippines is exploring the reentry of nuclear power, securing financing may prove challenging as some local banks remain cautious about backing such projects.

- BY GABRIELL CHRISTEL GALANG

Nuclear vs. renewables: The battle for financing

In an exclusive interview, Michael Ricafort, Chief Economist at Rizal Commercial Banking Corp. (RCBC), explained that the high costs and persistent safety concerns are major factors that could discourage financing.

"Safety issues have been the nagging concerns, as evidenced by the BNPP (Bataan Nuclear Power Plant) that was left unused despite being expensive," he told the Manila Bulletin. The BNPP, finished in 1984, was mothballed two years later due to safety issues, corruption allegations, and cost overruns.

Ricafort noted that nuclear developments come with more than just environmental risks. He also cited issues such as nuclear waste management, the risk of terrorism, and the potential impact of natural disasters on power facilities.

"Thus, the profitability or at least financial feasibility of nuclear power facilities would need important considerations on the financing side," he said.

Another obstacle is the government's fiscal deficit. "The government also has budget deficits, which is another challenge, given that nuclear power facilities/infrastructure are expensive," Ricafort added.

He pointed out that financing for other energy sources, such as renewable energy (RE), is more attractive to lenders because these projects have become cheaper and safer to develop and operate.

MÁS HISTORIAS DE Manila Bulletin

Manila Bulletin

Past, present lawmakers denounce Marine-bagmen claims of cash deliveries

Former and incumbent members of the House of Representatives have denied receiving luggages of cash sourced from anomalous flood control projects, as claimed by 18 supposed Marine-bagmen who joined lawyer Levi Baligod's press conference on Tuesday, Feb. 24.

time to read

2 mins

February 26, 2026

Manila Bulletin

Ethics complaint filed against ‘Bato’ over prolonged absence

An ethics complaint was filed on Wednesday, Feb. 25, against Senator Ronald “Bato” dela Rosa by a civil society group called “Wag Kang KuCorrupt,” led by former finance undersecretary Prof.

time to read

1 min

February 26, 2026

Manila Bulletin

SC to launch digital platform on free legal services for the poor

The Supreme Court (SC) is set to launch on March 3 the Phase 1 of the Unified Legal Aid Service (ULAS) portal, a centralized digital platform that will streamline lawyers' reports and compliance with the mandatory delivery of free legal services to poor and underprivileged Filipinos.

time to read

1 mins

February 26, 2026

Manila Bulletin

Manila Bulletin

High expectations

At 38 floors up, Finestra at Solaire Resort North makes a case for everyday Italian in QC

time to read

3 mins

February 26, 2026

Manila Bulletin

BAFTA 2026: ‘One Battle After Another’ wins six awards

Politically charged thriller “One Battle After Another” won six prizes, including best picture, at the British Academy Film Awards on Sunday, building momentum ahead of Hollywood’s Academy Awards next month.

time to read

2 mins

February 26, 2026

Manila Bulletin

Ask... seek... knock

The essence of prayer is petitioning to God to grant us something from his bountiful graces.

time to read

2 mins

February 26, 2026

Manila Bulletin

Palace denies Marcos seeking reconciliation with VP Sara

Malacañang has belied the claims made by former presidential spokesperson Harry Roque that President Marcos is seeking to reconcile with Vice President Sara Duterte.

time to read

2 mins

February 26, 2026

Manila Bulletin

Public debt surges, private sector cautious

Public and private debt in the Philippines continued to diverge as households and firms remain cautious despite lower interest rates, while the government sustains massive borrowings to revive slowing economic growth, the latest Institute of International Finance (IIF) data showed.

time to read

2 mins

February 26, 2026

Manila Bulletin

Manila Bulletin

LTO-7 cracks down vs modified mufflers

The Land Transportation Office-Central Visayas (LTO-7) has intensified its crackdown against loud modified mufflers.

time to read

1 min

February 26, 2026

Manila Bulletin

The beauty of the drive: Alone, but never lonely

In my last column, we ended the adventure by talking about the island province of Guimaras, which is only a short boat ride from Iloilo City, Iloilo.

time to read

3 mins

February 26, 2026

Listen

Translate

Share

-
+

Change font size