Minister Nguyen Hong Dien meets with Westinghouse representatives.
On May 19, Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, met with representatives from Westinghouse Electric Company, a leading American nuclear technology provider, to discuss potential collaboration in the field of nuclear energy.
Vietnam has embarked on a journey to restart its nuclear power program to ensure energy security amid rising electricity demands and the intermittent nature of renewable energy sources. With a cautious, modern, and pragmatic approach, the country has identified several potential sites for nuclear power development.
Both parties agreed to share information and work towards signing a Memorandum of Understanding (MOU) between Westinghouse and the Vietnam National Oil and Gas Group (Petrovietnam-PVN) for nuclear energy development. This collaboration aims to explore potential investment models, technology transfer, and human resource development in the nuclear energy sector.
Westinghouse: A Leader in Nuclear Technology
With a rich history dating back to 1886, Westinghouse has established itself as a prominent player in the nuclear industry. After a series of acquisitions and mergers, the company was restructured in 1999 as Westinghouse Electric Company LLC, specializing in nuclear technology.
Westinghouse currently offers advanced nuclear reactors, including the large AP1000 and the recently introduced small modular reactor (SMR) AP300, energy storage solutions, and nuclear fuel. According to their website, 60% of nuclear reactors in the United States utilize Westinghouse technology.
VC Summer Project. Image: Dominion Energy.
In 2018, Toshiba sold Westinghouse to Brookfield, a Canadian company, for $4.6 billion. A decade earlier, Toshiba had acquired Westinghouse for $5 billion. Despite challenges in some construction projects, Westinghouse has maintained its success in providing nuclear fuel and services to power plants worldwide.
Embracing the Future with Small Modular Reactors (SMRs)
In May 2023, Westinghouse unveiled its AP300 small modular reactor, a game-changer in the SMR landscape. This reactor integrates the proven technology of the larger AP1000 but is designed for a smaller 300 MW capacity. Westinghouse aims to obtain design certification for the AP300 by 2027 and commence construction of the first AP300 reactor in 2030.
AP300 Reactor Illustration. Image: Westinghouse
Westinghouse has signed multiple Memoranda of Understanding (MoUs) with partners in the UK, Ukraine, the Czech Republic, Canada, and the US to supply AP300 reactors. According to the International Atomic Energy Agency (IAEA), SMRs offer advantages such as easier installation, suitability for locations that cannot accommodate large nuclear plants, and reduced construction time due to modular construction.
Additionally, the smaller scale of SMRs can meet lower electricity transmission needs in areas with underdeveloped infrastructure. IAEA also highlights the potential for SMRs to be deployed as floating nuclear power plants (FNPPs) to serve the energy demands of islands and coastal regions, a concept that currently has only one operational example: Russia’s Akademik Lomonosov.
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