Vietnam plans to resume nuclear energy development project

By Khanh Vu

HANOI (Reuters) – Vietnam is considering restarting nuclear power development projects to ensure national energy security and support economic growth, according to a government document seen by Reuters.

The Southeast Asian country, a regional industrial hub heavily reliant on coal for power generation, is also seeking to increase its production of cleaner energy to meet its goal of net-zero emissions by 2050.

“The Ministry of Industry and Trade will conduct research on the nuclear energy development experience of other countries and make a proposal to develop nuclear energy in Vietnam,” according to the document dated Thursday.

The ministry did not immediately respond to an email seeking comment.

The document says Vietnam aims to increase its electricity generation capacity by 12 to 15 percent per year to “ensure national energy security… and support annual economic growth of 7 percent.”

The nuclear power development project will be submitted to the Politburo, the country’s most powerful decision-making body, for review, the document said, although no timetable was provided.

In 2009, Vietnam approved plans to develop its first two nuclear power plants, but these plans were abandoned in 2016 following the Fukushima nuclear disaster in Japan and due to budget constraints.

The proposed nuclear power plants, with a combined capacity of 4 gigawatts (GW), were to be built by Russia’s Rosatom and Japan’s Atomic Power Co in the central province of Ninh Thuan.

In recent years, the country has sought to develop cleaner energy, but its goals of developing offshore wind and LNG are threatened by regulatory and tariff barriers.

Officials said Vietnam has been considering resuming its nuclear power option for years and has discussed possible support from Russia, South Korea, Canada and other countries on small reactors.

Nuclear power was not mentioned in the country’s long-awaited energy development master plan approved last May. The plan, known as PDP8, would bring the country’s total installed power generation capacity to more than 150 GW by 2030, up from more than 80 GW at the end of last year.

The Ministry of Industry and Trade is now seeking opinions to update the PDP8, state media reported earlier this month.

The government office document said relevant ministries and agencies were also asked to remove obstacles to the development of offshore wind power and gas-fired power, without elaborating.

(Reporting by Khanh Vu and Francesco Guarascio; editing by John Mair and Lincoln Feast.)