Nuclear power plans take off in bid to ensure energy

Nuclear power plans take off in bid to ensure energy

Policies for building Ninh Thuan province-based nuclear power plants were approved last week by the National Assembly, in a bid to ensure energy for Vietnam.

The electronic voting results showed that 459/460 National Assembly (NA) deputies voted in favour of a resolution that consists of five articles stipulating some policies for investment in the construction, including the Ninh Thuan 1 and 2 component projects.

The plans promise to create economic gains for Ninh Thuan province, among others, Photo: Freepik.com

Chairman of the NA Committee on Science, Technology, and Environment Le Quang Huy emphasised that with the increasing demand for energy, the development of nuclear power is an objective necessity.

“The NA’s issuance of a specific policy mechanism is the right step, in line with the reality and requirements of the times. This is not only a condition for developing a stable power source, meeting the needs of socioeconomic growth, but also a strong commitment of Vietnam in implementing the goal of net-zero emissions by 2050,” Huy said.

The resolution allows policies such as simultaneously implementing negotiations with partners who have signed international treaties in construction and credit granting for the implementation of Ninh Thuan nuclear power, in parallel with the process of approving adjustments to funding policies.

It also stipulates the unified form of contractor selection that is allowed to be applied as a shortened appointment of contractors according to the provisions of the law on bidding.

According to NA deputy Trinh Thi Tu Anh representing the Central Highlands province of Lam Dong, the form of “turnkey contract” in the draft resolution in the current conditions of Vietnam is suitable.

“South Korea also chose this form for their first plant in the 1970s. By 1998, they completely mastered the technology, exporting South Korean nuclear power to the United Arab Emirates after that. Some other countries also chose the form of turnkey contract such as Bangladesh and Poland,” she explained.

The scope of work of the turnkey contract includes construction and preparing documents for site approval, purchasing insurance for the entire scope of the contract (and allowed to purchase from a foreign insurance company without a branch licensed to establish and operate in Vietnam), supplying nuclear fuel, and operating and maintaining the plant for five years from the date of approval.

The resolution stipulates that the prime minister approves the policy of increasing the investor’s charter capital from the source of re-evaluation of fully depreciated assets of build-operate-transfer power plants that have been handed over, and multipurpose hydropower plants with an additional capital level equivalent to the level of a key national initiative.

Deputy NA Tran Quoc Nam representing Ninh Thuan province said that this is one of Vietnam’s key energy projects, aiming to meet the increasing demand for electricity while contributing to ensuring national energy security. With the application of specific mechanisms, it will be implemented quickly and effectively, while ensuring strong international cooperation, especially in the fields of technology and finance.

“The undertaking also promises to create many opportunities for economic development in Ninh Thuan province, contributing to the industrialisation and modernisation of the region and the whole country,” Nam said. “The construction of a nuclear power plant will boost supporting industries, develop high-quality personnel in the energy sector, and entice domestic and foreign investment.”

VIR