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Vietnam and Russia officially commit to nuclear power development

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Russia, Vietnam Sign Deal to Build Ninh Thuan 1 Nuclear Power Plant

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Russia, Vietnam Advance Plans for First Nuclear Power Plant

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Novatek inks preliminary contract with buyer in Vietnam  CEO

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Vietnam Russia Sign Agreement On Nuclear Power Plant Construction

Vietnam, Russia sign deal to build nuclear power plant

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Russia signs agreement with Vietnam to build its first nuclear power plant

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Viet Nam, Russia sign Agreement on construction of first nuclear power plant

Viet Nam mulls over restarting nuclear power project: Prime Minister

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"It will be years before new-build capacity comes online and possibly a decade or more before a significant amount of new gigawatts is added to the grid."

"Project timelines are long, with the first plant expected around 2030, which shows that meaningful revenues are still years away."

"No such small reactors are being built yet in the United States, but the energy department seeks to develop them by the 2030s. "

"I think these manufactured timelines are actually incredibly concerning."

"Most designs stay in the pre-commercial phase well into the 2030s."

"2028–2030 is the earliest window for seeing initial SMR units operational for data center use"

"These projects will help deliver new nuclear generation in the early 2030s."

"Several SMR designs expected to be commercially deployed within 5 to 10 years."

"[It] isn't expected to happen until late 2026 or early 2027."

“We’ve finished our technical work on the Kemmerer review a month ahead of our already accelerated schedule, as we aim to make licensing decisions for new, advanced reactors in no more than 18 months.”

"China will start commercial operation of its homegrown small modular reactor (SMR), the Linglong One, in the first half of 2026."

Will Any GenIV Small Modular Nuclear Reactors Enter Commercial Operation by 2027?

Russia and Vietnam sealed an intergovernmental agreement in Moscow on Monday to cooperate on the construction of the Ninh Thuan 1 Nuclear Power Plant, the first of its kind in the Southeast Asian country.

Russia and Vietnam sealed an intergovernmental agreement in Moscow on Monday to cooperate on the construction of the Ninh Thuan 1 Nuclear Power Plant, the first of its kind in the Southeast Asian country.

The deal was signed by Alexey Likhachev, the director of Russia's nuclear state corporation Rosatom, and Tran Van Son, the head of the Vietnamese Government Office, in a ceremony witnessed by Vietnamese Prime Minister Pham Minh Chinh and his Russian counterpart Mikhail Mishustin.

The deal was signed by Alexey Likhachev, the director of Russia's nuclear state corporation Rosatom, and Tran Van Son, the head of the Vietnamese Government Office, in a ceremony witnessed by Vietnamese Prime Minister Pham Minh Chinh and his Russian counterpart Mikhail Mishustin.

Under the terms of the arrangement, the plant will feature two Russian-designed VVER-1200 reactor units with a combined installed capacity of 2,400 MW, modeled on units at Russia's Leningrad Nuclear Power Plant-2.

Under the terms of the arrangement, the plant will feature two Russian-designed VVER-1200 reactor units with a combined installed capacity of 2,400 MW, modeled on units at Russia's Leningrad Nuclear Power Plant-2.

The development follows the Vietnamese government's approval of its nuclear energy strategy the previous week, which envisions building two nuclear power plants in Khanh Hoa province by 2035, alongside at least one small modular reactor. By 2050, Vietnam expects nuclear energy to account for 6-8% of its total electricity output.

The development follows the Vietnamese government's approval of its nuclear energy strategy the previous week, which envisions building two nuclear power plants in Khanh Hoa province by 2035, alongside at least one small modular reactor. By 2050, Vietnam expects nuclear energy to account for 6-8% of its total electricity output.

The Ninh Thuan 1 is included in the initiative, but was originally shelved in 2016 due to costs and safety concerns. In November 2024, however, Chinh restarted the project to secure the country's power supply and meet its rising energy demand, which Vietnam projects will grow to 1,200 billion kWh by 2045.

The Ninh Thuan 1 is included in the initiative, but was originally shelved in 2016 due to costs and safety concerns. In November 2024, however, Chinh restarted the project to secure the country's power supply and meet its rising energy demand, which Vietnam projects will grow to 1,200 billion kWh by 2045.

The nuclear deal was one of multiple energy pacts between the two countries on Monday, with Russia and Vietnam signing an oil and gas agreement <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.verity.news/story/2026/oil-surges-past-amid-iran-attacks-on-gulf-facilities">amid disruptions to global supplies</a>. Novatek separately confirmed a contract to supply an unnamed Vietnamese buyer with liquefied natural gas.

The nuclear deal was one of multiple energy pacts between the two countries on Monday, with Russia and Vietnam signing an oil and gas agreement amid disruptions to global supplies. Novatek separately confirmed a contract to supply an unnamed Vietnamese buyer with liquefied natural gas.

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This nuclear agreement between Russia and Vietnam is a significant milestone for Vietnam, steering the nation toward genuine energy independence. By bringing Russian expertise on board, Vietnam can now construct the reliable and clean source of power its fast-growing economy desperately needs, securing both its energy security and its future prosperity in the process.

This nuclear agreement between Russia and Vietnam is a significant milestone for Vietnam, steering the nation toward genuine energy independence. By bringing Russian expertise on board, Vietnam can now construct the reliable and clean source of power its fast-growing economy desperately needs, securing both its energy security and its future prosperity in the process.

Signing a nuclear deal is the easy part — delivering it is where Vietnam has a troubled track record. Bureaucratic paralysis, widespread corruption and persistent public investment delays have derailed major infrastructure projects in the past and are likely to do so again. Without serious governance reform, Ninh Thuan 1 risks becoming another costly, delayed mega-project that drains resources Vietnam can ill afford to waste.

Signing a nuclear deal is the easy part — delivering it is where Vietnam has a troubled track record. Bureaucratic paralysis, widespread corruption and persistent public investment delays have derailed major infrastructure projects in the past and are likely to do so again. Without serious governance reform, Ninh Thuan 1 risks becoming another costly, delayed mega-project that drains resources Vietnam can ill afford to waste.

There is a 9% chance that small modular nuclear reactors will supply at least 1% of any nation's electricity by 2030, according to the Metaculus prediction community.

There is a 9% chance that small modular nuclear reactors will supply at least 1% of any nation's electricity by 2030, according to the Metaculus prediction community.

Alexander Miridonov / POOL / AFP via Getty Images

Russia, Vietnam Sign Deal for First Nuclear Plant

Vietnam

Russia

Nuclear power

This nuclear agreement between Russia and Vietnam is a significant milestone for Vietnam, steering the nation toward genuine energy independence. By bringing Russian expertise on board, Vietnam can now construct the reliable and clean source of power its fast-growing economy desperately needs — securing both its energy security and its future prosperity in the process.

This nuclear agreement between Russia and Vietnam is a significant milestone for Vietnam, steering the nation toward genuine energy independence. By bringing Russian expertise on board, Vietnam can now construct the reliable and clean source of power its fast-growing economy desperately needs — securing both its energy security and its future prosperity in the process.

Signing a nuclear deal is the easy part — delivering it is where Vietnam has a troubled track record. Bureaucratic paralysis, widespread corruption and persistent public investment delays have derailed major infrastructure projects in the past and are likely to do so again. Without serious governance reform, Ninh Thuan 1 risks becoming another costly, delayed megaproject that drains resources Vietnam can ill afford to waste.

Signing a nuclear deal is the easy part — delivering it is where Vietnam has a troubled track record. Bureaucratic paralysis, widespread corruption and persistent public investment delays have derailed major infrastructure projects in the past and are likely to do so again. Without serious governance reform, Ninh Thuan 1 risks becoming another costly, delayed megaproject that drains resources Vietnam can ill afford to waste.

Alexander Miridonov/AFP/Getty Images

Alexander Miridonov/AFP/Getty Images

Russia, Vietnam Sign Deal for First Nuclear Plant

Russia, Vietnam Sign Deal for First Nuclear Plant

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