Document from the Politburo shows Vietnam is open to using small modules nuclear reactors
According to a document released by the Communist Party’s Politburo (the most powerful body in the country), Vietnam is open to the use of small module reactors to power its planned nuclear plants.
Southeast Asia, a manufacturing hub in the region, seeks to increase its capacity for power generation to support an economy that is one of the fastest growing in the world.
The document is available on the internet. It calls for a rapid development of "a flexible nuclear energy development plan with small module reactors" and encourages private companies in the nuclear industry.
It is the first time Vietnam publicly announced that it would consider small modular reactors. These can be produced, shipped, and installed on-site, and are therefore more affordable than large nuclear power plants.
Several countries, such as the United States of America, Russia, and South Korea, are producing or developing small module reactors. Petrovietnam, the top Vietnamese energy company, signed an agreement in May with Westinghouse Electric Company to share information on nuclear technology.
In April, Vietnam announced that it aimed to increase its installed power capacity from 80 GW to between 183 and 236 GW by 2030.
According to the government to meet this capacity target the country will need to invest $136.3 Billion by 2030. This is equivalent to over a quarter the Vietnam's gross domestic product in 2024.
In a document, the Politburo stated that the progress of several power development projects was slow and the legal framework for industry is still weak.
It said that "domestic energy supplies are still dependent on imports and pose the threat of power shortfalls during a period of targeted double-digit growth."
Vietnam aims to achieve a GDP growth rate of 8,3%-8,5% by 2025. It also targets double-digit growth throughout the remainder of the decade.
Vietnam has decided to restart the development of nuclear plants that had been suspended almost a decade earlier. The first plants, with a capacity of up 6.4 GW combined, are expected to be online in 2035.
In several countries including the United States and Canada, small module reactors are being deployed.
The Vietnamese government had previously indicated that it would select Russian and Japanese companies to develop its first nucleopower plants.
The Politburo called for an increase in crude oil production, coal production and the lowering of regulatory barriers for offshore wind development. (Reporting and editing by John Mair, Tom Hogue and Francesco Guarascio)
(source: Reuters)
