A U.S.-Vietnam civilian nuclear energy cooperation agreement went into force to establish the terms for commercial nuclear trade, research and technology exchanges between the two countries.
Vietnam has plans to develop up to 10 reactors by 2030, with a potential market for U.S. nuclear suppliers estimated at approximately $10 billion to $20 billion, according to the Nuclear Energy Institute (NEI). Vietnam already signed an agreement for Russia’s Atomstroyexport to build two nuclear facilities in 2010, as well as an agreement with Japan to build two more reactors at a second site. The first 1,000-MW reactor is expected to begin commercial operation in 2023.
The U.S.-Vietnam cooperation means U.S. companies can compete on a more level playing field to build the six additional planned reactors, NEI said. GE Hitachi Nuclear Energy signed a memorandum of understanding with Hanoi University of Science and Technology in which GEH will train students in nuclear engineering and technology and offer internship opportunities at GEH’s global headquarters in Wilmington, N.C. starting in 2015.
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