Vietnam to amend national power plan to include nuclear energy

Vietnam will amend its national power development plan, known as PDP8, to include options for nuclear energy and hydrogen, the Minister of Industry and Trade said on Monday.

The PDP8 will be amended in a way to also add more renewables to the mix, including solar and wind, Nguyen Hong Dien told the National Assembly at a meeting in Hanoi.

The PDP8, approved in May last year, would raise the country’s total installed power generation capacity to over 150 GW by 2030 from over 80 GW at the end of last year.

However, offshore wind and LNG development targets are at risk due to regulatory and pricing hurdles.

The amendment of the power development plan is aimed at « fully tapping the country’s energy potentials and staying proactive in energy supplies, » Dien said.

A government document reviewed by Reuters in September showed Vietnam is considering resuming plans to develop nuclear power to ensure energy security and to support economic growth.

The document said Vietnam has a target of raising its power generation capacity by 12%-15% a year to « ensure national energy security… and support an annual economic growth of 7%. »

Officials have said Vietnam has discussed small, modern nuclear reactors with a number of countries including South Korea, Canada and Russia.

According to the IAEA, small modular reactors can be manufactured and then shipped and installed on site, making them more affordable to build than large power reactors.

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

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

By Khanh Vu & Francesco Guarascio – Reuters – October 21, 2024