EVN proposed that the Prime Minister assign the group to continue investing in the Ninh Thuan nuclear power project and new power sources.
According to the Government’s plan at the end of 2009, the Ninh Thuan nuclear power project includes two plants Ninh Thuan 1 and 2, with a total capacity of 4,000 MW (2×2,000 MW). At that time, the project was assigned EVN as the investor and cooperated with Russia and Japan to carry out investment preparation work. However, this project was later suspended according to the decision of the competent authority.
At the end of November 2024, the National Assembly resolved to restart the Ninh Thuan nuclear power project after 8 years of pause.
At the summary conference on January 6, General Director of Vietnam Electricity Group (EVN) Nguyen Anh Tuan said that the group asked the Prime Minister to assign them to continue investing in the Ninh Thuan nuclear power project. This will be the basis for EVN to carry out the next work in this project restart program.
The selected investment location for the Ninh Thuan 1 and 2 nuclear power plant project in Vinh Hai and Phuoc Dinh communes (Ninh Thuan province) has previously been carefully surveyed and evaluated by domestic and foreign consulting units. These are the two best locations, meeting strict international criteria, suitable for building nuclear power plants in Vietnam.
In Directive 01 dated January 3, Prime Minister Pham Minh Chinh requested the Minister of Industry and Trade to direct the implementation and completion of investment in the Ninh Thuan Nuclear Power Plant project in 5 years.
A Georgia Power nuclear power plant in the US. Image: Enegy.gov
Previously, at a press conference in early December 2024, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that choosing an investor is an important content. Because this will be the subject implementing the entire process, from research, proposal, construction and operation of the power plant. In addition, the legal corridor is now complete to implement this project. The Ministry also requested Ninh Thuan province to create conditions for clean land and people’s consensus for the project.
Nuclear power is a fundamental, green and sustainable source of electricity. Therefore, developing this power source helps Vietnam diversify supply sources, ensure energy security and achieve the goal of net zero emissions (Net Zero) by 2050 according to commitments at COP26.
This year, the Government set a GDP target of 8%, as a foundation to achieve double-digit growth in the period 2026-2030. With this growth rate, electricity must grow 1.5 times, meaning 8,000-10,000 MW need to be added to the system each year.
Therefore, to have enough electricity for the economy, EVN proposed that the Prime Minister continue to assign this group as the investor of new power source projects, besides Ninh Thuan nuclear power. This group also requested the Prime Minister, ministries and localities to support them in implementing urgent projects, shortening preparation and construction time, and promptly increasing electricity supply to the North.
Currently, EVN and power generation corporations (Gencos) account for about 37.5% of electricity sources; The remaining 62.5% depends on PVN, TKV and outside investors (BOT, private). Therefore, EVN proposed that the Ministry of Industry and Trade direct PVN, TKV, and investors of power sources to ensure that generating units are ready for mobilization and to soon have a plan to supply additional gas to gas turbine plants.
According to the report, by 2024 EVN’s total consolidated revenue will reach about VND 575,000 billion. In which, the parent company – EVN’s revenue reached 480,662 billion VND, an increase of 14.3% compared to the previous year. Last year, the parent company was profitable, but the group has not announced detailed numbers.