An offshore wind power farm in Ca Mau.
The Ministry of Industry and Trade (MoIT) has proposed developing nuclear energy on a small scale post 2030 in its latest version of the draft Vietnam Power Development Plan from 2021 – 2030 (PDP8) with a vision towards 2045.
The move aims to support Vietnam’s efforts to achieve zero-net emissions by 2050, as nuclear power is viewed as near-clean energy, according to the MoIT. Particularly after the UN Climate Change Conference (COP26) in Scotland, many countries have recognised it as a clean source of power since nuclear power plants produce no greenhouse gas emissions during operation.
However, the ministry also noted the Government must obtain approval from the Party Central Committee's Politburo and Secretariat before including nuclear power projects in the plan.
Under the latest revised draft of the PDP8, the MoIT introduced two plans with different goals.
In the first plan, Vietnam expects to generate a total of 146,000MW of electricity by 2030 and 343,000MW by 2045, exclusive of rooftop solar power which currently has capacity of some 7,755MW.
The country plans to produce more offshore and onshore wind power with production expected to significantly surge from 7,000MW by 2030 to 54,000MW by 2045, and the latter from 14,721MW to 42,650MW.
The second plan pushes for stronger energy transition. It sets for Vietnam to generate around 150,970MW of power by 2030 and 426,857MW by 2045.
However, according to the Government’s Office, the draft plan lacks national grid development planning so there is insufficient evidence for the finalisation of total investment to be required for power development until 2045.
The office held that potential for expanding renewable energies in Vietnam remains huge. Therefore, the MoIT must develop transparent and competitive mechanisms for the efficient use of such energy resources, enabling the country to successfully fulfill COP26 commitments and enhance its energy self-sufficiency in the coming time.
It is also important to have more analysis on the future use of the renewables, the office added.
The Vietnamese Delegation to international organizations and the International Atomic Energy Agency (IAEA) have signed a cooperation program framework that shapes their cooperation for the 2022-2027 period.
Maintaining FIT prices for those who failed to meet deadline and reimplementing nuclear power projects were among issues raised by foreign investors at the Vietnam Business Forum 2022.