Vietnam resumes nuclear power project after 8-year pause

The National Assembly, Vietnam's legislature, has agreed to resume a nuclear power project in the south-central province of Ninh Thuan after an eight-year suspension.

Under a resolution passed on Saturday, the government is tasked with allocating resources to restart the Ninh Thuan nuclear power project based on the conclusions of competent authorities.

It is also required to direct relevant ministries and agencies to study and amend related laws, including the Law on Atomic Energy.

Nuclear power is considered a reliable, green and sustainable energy source. Therefore, the development of this energy source will diversify supply, ensure energy security, and aid the transition to green energy. It is also aimed to help Vietnam meet its commitment to achieving net-zero emissions by 2050.

The scheme presents opportunities for Vietnam to attract financial, technological and high-quality human resources through international cooperation programs and to integrate into the industrial supply chain of this sector.

The locations selected for the Ninh Thuan 1 and 2 nuclear power plants have been thoroughly assessed by both domestic and international consultants. These sites meet the strict international criteria for nuclear power development in Vietnam, the resolution reads.

The government stated that after the project is given in-principle approval, relevant authorities will review and update nuclear energy development orientations in related strategies, such as the energy development strategy and the electricity industry strategy.

Authorities will also create a nuclear power development plan, detailing the potential for various types of nuclear power plants, including large-, small-, and micro-sized.

The nuclear power development will utilize modern technology to ensure the highest safety standards, minimize risks to human health and the environment, and optimize investment efficiency, according to the cabinet.

The amended Electricity Law, approved by the National Assembly the same day, features provisions on the development of nuclear energy.

The nuclear power development planning must align with the national power development plan to ensure energy security. The investment, construction, operation, and decommissioning of nuclear power plants must comply with the Atomic Energy Law and other relevant regulations.

As of August 2024, there were 415 nuclear reactors operating worldwide with a total installed capacity of 373,735 MWe. An additional 62 reactors are under construction with a combined designed capacity of 64.971 MWe. Nuclear power was contributing around 10% of the world’s electricity supply.

While 32 countries currently operate nuclear power plants, 20 more were considering the nuclear option to meet their energy needs and fulfill climate commitments, according to a government report.

In 2005, Vietnam’s Party Central Committee had greenlighted a plan to build two nuclear power plants in Ninh Thuan. Four years later, the parliament approved the plan with an initial investment of VND200 trillion ($7.9 billion at the current forex rate).

In November 2016, the legislature decided to halt the project, citing safety, funding and technology reasons.