Vietnam is reconsidering its nuclear power development plans to strengthen energy security and support economic growth, according to a government document reviewed by Reuters. The country, which relies heavily on coal, seeks cleaner energy solutions to achieve its net zero target by 2050.
The Ministry of Industry and Trade is studying global nuclear energy development and will propose a plan to the Politburo, Vietnam’s top decision-making body. The move comes as Vietnam targets an annual power capacity increase of 12-15% to support its 7% economic growth target.
Vietnam’s initial plans for nuclear power, approved in 2009, were halted in 2016 due to budgetary constraints and safety concerns following the Fukushima disaster. However, the country is now exploring support from Russia, South Korea, and Canada for small nuclear reactors.
Despite challenges with offshore wind and liquefied natural gas development, Vietnam’s latest power development plan (PDP8), approved in May 2023, aims to increase the nation’s installed power capacity to over 150 GW by 2030. Nuclear power was not included in PDP8, but the Ministry of Industry and Trade is seeking to update the plan as it evaluates future energy options.