Energy giants Kepco, EVN discuss nuclear power development

Vietnam Electricity (EVN) chairman Dang Hoang An and Korea Electric Power Corporation's (Kepco) president and CEO Kim Dong Cheol discussed nuclear power development in a meeting last Friday in Hanoi.

They also talked about the application of smart technology in the electricity sector, according to an EVN post on its website.

Prime Minister Pham Minh Chinh in February assigned state-owned giants EVN and Petrovietnam (PVN) to be investors of Ninh Thuan 1 and 2 nuclear power plants respectively, requesting them to complete the project before December 31, 2030.

The Ninh Thuan nuclear power project includes two plants, with two turbines each. The Ninh Thuan 1 is located in Phuoc Dinh commune, Thuan Nam district, while the Ninh Thuan 2 in Vinh Hai commune, Ninh Hai district. The project will need investment of at least $22 billion, according to Ministry of Industry and Trade calculaltions.

At the dialogue, EVN and Kepco leaders also expressed their desire to strengthen cooperation to improve operational efficiency and develop future power projects.

An thanked Kepco for maintaining good cooperation with EVN over the years. He said he highly appreciates Kepco's proposal to cooperate with EVN in developing smart technology in the electricity sector.

The EVN top leader proposed the two sides establish a working group to enhance cooperation and exchange experiences.

Kepco is managing and operating more than 83 GW out of South Korea's total of 150 GW. The giant also participates in the operation and maintenance of power plants, research activities, and technical consulting. In Vietnam, Kepco is a co-investor of the Nghi Son 2 and Vung Ang 2 BOT power projects.

Previously, Kepco and EVN had signed a cooperation agreement which includes contents like exchanging experiences, Kepco supporting EVN in human resource training at management levels, and EVN supporting Kepco in developing power transmission projects in Vietnam.

Many foreign companies have expressed their interest in partnering with Vietnam to implement the Ninh Thuan nuclear power project, including those from the U.S., South Korea, Russia, Japan, China, and France.

In February, SK Group chairman Chey Tae Won had separate meetings with Vietnam's Party chief To Lam and Prime Minister Pham Minh Chinh. At the event, he proposed that SK can jointly develop energy projects in Vietnam, including LNG-fired power and nuclear power per small module reactor (SMR) models.

In the same month, Posco International president and CEO Kye-In Lee said Posco is eyeing making further investments in Vietnam, including rare earth processing and nuclear power technology-infrastructure-materials.

He made the suggestions at a meeting with Vietnamese Minister of Industry and Trade Nguyen Hong Dien. The Vietnamese delegation at the meeting also featured officials from EVN and PVN.

Regarding nuclear power, the Posco leader noted the giant is willing to cooperate and transfer technology to Vietnam in designing and building small modular reactors (SMR).

Vietnam’s first nuclear power plant, Ninh Thuan 1, can operate from 2035 at the earliest, the Ministry of Industry and Trade said in its draft amendment to the power development plan VIII (PDP VIII).

In Februarry this year, EVN deputy general director Vo Quang Lam had a meeting with Han Sang Seol, chief representative of Kepco KDN Vietnam, a unit under Kepco.

The meeting focused on cooperation proposals between EVN and Kepco KDN in the fields of information technology, automation, information security, as well as solutions for managing renewable energy and nuclear power plants.

Han Sang Seol said he highly values the potential for renewable energy development in Vietnam and the digitalization trend in EVN's power system management and operation.

He said that Kepco KDN wishes to actively participate in the digital transformation and clean energy development in Vietnam, through provision of advanced and efficient technology solutions.