Southeast Asia is exploring nuclear power as a clean and reliable energy source. The Philippines, Vietnam, Malaysia, and other nations are considering nuclear plants to meet growing energy demand and combat climate change. Despite the high costs and construction time, international financing is becoming more available, and technological advancements are making nuclear power safer and more efficient.
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A member of the Philippine National Power Corporation explains required security measures during a tour of the Bataan Nuclear Power Plant on Monday, Jan. 20, 2025. Filipino tourists pose for a photo in front of the billboard advertising the Bataan Nuclear Power Plant in the Philippines on Sunday, Jan. 19, 2025.
But nuclear power plants are expensive, take years to build and require a long time to become profitable. Vietnam suspended a nuclear project in 2016 after costs soared to $18 billion, but on Jan. 14, it signed a deal with Russia on atomic energy cooperation. “We hear the call from some stakeholders to explore nuclear power to decarbonize energy and improve energy supply reliability," a World Bank spokesperson said in a recent written response to questions from The Associated Press."We continue to have conversations with our board, management, and external stakeholders to understand the facts. Any reconsideration of our position is ultimately a decision for our member countries.
The small modular reactors already operating are run by state-owned entities that aren’t transparent about performance or costs. The cost of the first such reactor that was to be commercially deployed in the U.S. inflated by about half before it was cancelled, he said. Thehad a target of delivering 40 years of electricity at $55 per megawatt-hour, but project costs climbed to $89 per MWh,Nuclear disasters dimmed earlier enthusiasm for nuclear power in Southeast Asia.
NUCLEAR POWER ENERGY CLIMATE CHANGE SOUTHEAST ASIA PHILIPPINES VIETNAM MALAYSIA CLEAN ENERGY
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