Vietnam Restarts Nuclear Program
The construction of two nuclear power plants has been announced, one of which will be completed as early as 2030
Vietnam sees nuclear power as a way to meet the country’s growing energy needs. Obviously, this will not be a short-term answer, but the National Assembly has approved the government’s proposal to restart the Ninh Thuan nuclear project. It is estimated that electricity consumption will increase by 12% to 13% in 2025 alone, so structural interventions are needed.
The Ninh Thuan project was approved back in 2009, but then put on hold in 2016. The move marks a change of direction for Vietnam’s energy policy. Two power plants are planned, one in Phuoc Dinh municipality and the other in Vinh Hai municipality, with a total capacity of more than 4000 MW.
“In order to establish a legal framework for the two power plants, the Ministry of Industry and Trade shall review and supplement the eighth version of the National Electricity Development Plan, and the Ministry of Science and Technology shall submit amendments and additions to the Atomic Energy Law,” explains the Hanoi government, which defines the project as “of great importance to ensure an adequate supply of electricity to the economy. The government estimates that electricity consumption will increase by 12% to 13% in 2025 and reach 1200 billion kWh by 2045, compared to the projected 1000 billion kWh in the 8th National Electricity Development Plan.
Investors in the two power plants are state-owned EVN and oil company PetroVietnam; cooperation with foreign partners is planned, with state media talking about negoatiations in the near future with Russia, Japan, South Korea, France, and the United States.