Asia Nuclear Energy

The Alliance is composed of 11 government agencies and 31 private firms.

The Barakah Nuclear Energy Plant capacity will reach 5.6GW upon Unit 4’s completion.

The market will continue relying on LNG for primary backup fuel amidst its energy transition.

The government plans to boost nuclear power generation to 32.4% by 2030.

Nuclear power deployment is being held up by high costs.

It accounted for only 5% of APAC’s power generation in 2021. 

The MoU signed reflects recent changes in nuclear circumstances.

It aims to reach 20GW of nuclear power generation by 2030.

As these nuclear reactors are still in development, their wide deployment is unlikely, analysts say. 

One of the measures included expanding joint project entries of nuclear power plant companies.

National governments will need to address more than just competitive costs and innovations. 

SMRs can be a viable competitor with renewable energy, Wood Mackenzie noted. 

This comes as markets look for a more low-carbon energy supply, Wood Mackenzie reported. 

The SMR market is expected to reach 21GW by 2035, the Nuclear Energy Agency reported. 

As of 2023, there are 422 operable nuclear power reactors in the world, but none from SEA.

 The JAIF and NEI asked the two governments to improve the energy market and regulation.