Will Vietnam have the first nuclear power plant in Southeast Asia?
Will Vietnam have the first nuclear power plant in Southeast Asia?
Vietnam is one of the few countries in Southeast Asia investing in nuclear energy.
The total energy demand in Southeast Asia is estimated to increase by 83% from 549 Mtoe in 2011 to 1,004 Mtoe in 2035.
FPT Securities JSC (FPTS) said the growth of regional energy demand will slow down from an average of 3% per year in the period of 2011-2020 to 2.3% per year in the period of 2020-2035.
In particular, nuclear energy will play an insignificant role in the energy structure of the region in the period 2011 - 2035.
This reflects the complexity in developing nuclear energy programs. Most countries in the region are not keen on planning nuclear power in their long-term development strategy.
In fact, nuclear energy is not currently used in any Southeast Asian country. However, as energy security has always been at the forefront, the countries in the region must think of this energy source in the future.
FPTS also forecasts that in ASEAN Vietnam is likely to be the first country to build nuclear power plants in the region in 2020.
Vietnam is the most active country in this regard. It is preparing plans, training technical staff and creating a legal framework for nuclear power plants.
Vietnam has signed a bilateral cooperation agreement (including financial funding) with Russia to build the first nuclear power plant.
The Ninh Thuan nuclear power plant is the common name of two nuclear power plants I and II in Ninh Thuan Province, Vietnam with a total capacity of over 4,000 MW.
According to the national electricity development plan, nuclear power plants I and II will be launched in December 2014 and completed in 2022 (generating power at the end of 2020). Total investment is estimated at VND200 trillion at the end of 2008.
After Vietnam, Thailand is also expected to have the first nuclear power plant in 2026. However, this project has encountered objections due to Thailand’s limited energy resources (which is considered a prerequisite for the development program of nuclear power).
Reportedly, the Vietnam Electricity Group (EVN) is building a roadmap adjusting transmission rates. It is also balancing capital to 2030 to develop financial mechanisms for the Ninh Thuan nuclear power project. EVN is expected to ensure adequate mobilization of capital for the period 2016-2020, with about VND600 trillion.
