Vietnam Revives Nuclear Power Ambitions, Seeking Energy Security
HANOI – Vietnam is pushing forward with plans to develop its first nuclear power plant, signaling a renewed commitment to diversifying its energy sources and bolstering energy security. After halting previous nuclear initiatives in 2016, the Vietnamese government officially agreed to restart the Ninh Thuan nuclear power project in November 2024, with a target completion date of 2030.
The decision comes as Vietnam experiences rapid economic growth and a corresponding surge in electricity demand, currently increasing at approximately 10% annually. In 2023, total electricity generation reached 274.0 TWh, with coal accounting for the largest share at 45%, followed by hydro at 29%, solar at 10%, and natural gas at 10%. Despite growth in renewables like solar and wind, Vietnam continues to rely heavily on fossil fuels, prompting a search for cleaner and more sustainable energy options.
Prime Minister Pham Minh Chinh now chairs a newly formed Steering Committee for Nuclear Power Plant Construction, demonstrating the government’s prioritization of the project. The committee, established on January 10, 2025, is tasked with overcoming obstacles, refining legal frameworks, and fostering international cooperation, particularly with the International Atomic Energy Agency (IAEA). This high-level oversight underscores a “whole-of-society approach” to nuclear power development, according to official statements.
Vietnam’s interest in nuclear power dates back to 1995, with firm proposals emerging in 2006. Initial plans involved securing financing and technology from Russia and Japan for a combined 4600 MWe of nuclear capacity. However, those plans were abandoned in November 2016, citing economic concerns and safety anxieties following the Fukushima Daiichi nuclear disaster.
The renewed push for nuclear energy is driven by a confluence of factors, including a growing need for a stable baseload power supply and a desire to reduce reliance on imported fossil fuels. The Ninh Thuan project, envisioned to have a total generating capacity of four gigawatts, is expected to play a crucial role in meeting Vietnam’s increasing energy demands. Investments will come from state-run Vietnam Electricity (EVN) and PetroVietnam.
However, significant hurdles remain. A recent report in the South China Morning Post highlighted the formidable challenges facing Vietnam’s nuclear ambitions, including the need for robust safety regulations, skilled workforce development, and public acceptance. Concerns about waste disposal and the potential for accidents continue to fuel debate.
The success of the Ninh Thuan project will also depend on securing international partnerships and navigating geopolitical considerations. While Russia and Japan were previously involved in discussions, it remains to be seen which countries will ultimately provide the necessary technology and financial support. Eco-Business reported that both Moscow and Seoul are positioning themselves to assist Vietnam in achieving its nuclear energy goals.
Despite the challenges, the Vietnamese government appears determined to overcome them. The revival of the Ninh Thuan project represents a significant step towards diversifying Vietnam’s energy mix and achieving its long-term sustainable development goals. The project is seen as particularly important as it coincides with the 100th anniversary of the Communist Party of Vietnam in 2030.
Per capita electricity consumption in Vietnam has risen dramatically, exceeding eight times the level of 2000, reaching approximately 2400 kWh in 2023. This rapid increase, coupled with a population of around 100 million people growing at about 1% per year, is placing significant strain on the country’s power infrastructure, sometimes resulting in rationing.
