August 13, 2024
HONG KONG – Members of the Association of Southeast Asian Nations are keen to explore nuclear energy to meet climate commitments and promote energy security, but they still need to overcome concerns over safety and funding, a regional forum heard recently.
“The energy needs of our regions are growing, and finding reliable, sustainable solutions is more crucial than ever. Nuclear energy, with its potential to provide consistent and low-carbon power, is a topic that we can’t afford to overlook,” Beni Suryadi, deputy executive director of ASEAN Center for Energy, told a forum it organized in Jakarta on Friday.
The ASEAN Energy Booklet Volume 2: Nuclear Energy Development in ASEAN, was launched during the forum, featuring regional nuclear energy development, nuclear power’s role in ASEAN’s energy transition and advancements in nuclear technologies.
Marcel Nicky Arianto, associate research analyst on power at ASEAN Center for Energy, said that while ASEAN countries aim to reach carbon neutrality by generating renewable energy such as solar and wind, they are not stable sources of power owing to their intermittency. But he said nuclear energy will not only cut carbon emissions but is also a stable and flexible energy source.
As of 2022, more than 66 percent of the power generated in the ASEAN region was from coal and gas, while renewables accounted for about 33 percent.
Arianto said the first step in deploying nuclear power in the region is for the governments to have “a strong political will” to use nuclear power as a means to secure energy supply and transition to a cleaner source of fuel; to create policies and laws on nuclear development; and to build the nuclear power plants.
Significant progress
The ASEAN booklet has highlighted several countries that have made significant progress in their plan to use nuclear energy in the future. Indonesia, for example, has regulatory and research agencies on nuclear power and is planning to develop its first nuclear reactor by 2035. Vietnam is likewise conducting research and plans to have a small-scale nuclear reactor after 2030, while Thailand is eyeing building a power plant by 2036.
But Arianto said ASEAN is facing many challenges in building nuclear power plants, the most crucial of which is ASEAN’s geographic location as some countries are located in the Pacific Ring of Fire, and concerns over nuclear waste management. The Fukushima nuclear accident and the Chernobyl disaster are also weighing on plans to develop a nuclear energy policy.
Brianna Lazerwitz, energy economist at the International Atomic Energy Agency, said that while nuclear projects share similarities with other large scale, capital-intensive infrastructure projects, they also “present unique considerations, and that translates to unique risks for investors”.