The United States may be deliberating about nuclear power at home, but it's waking up to the significant export market including emerging economies where nuclear could help usher in a low carbon, sustainable future.
Case in point: The U.S. has approved nuclear exports to Vietnam, where U.S. Secretary of State John Kerry says the nuclear power market could hit $50 billion by 2030.
World Nuclear News reports that Kerry signed an agreement with Vietnam's foreign minister Pham Binh Minh that "will allow the transfer of nuclear-energy related materials and components between the two countries." The two met at the ASEAN (Association of Southeast Asian Nations) Summit in Brunei last week.
"Vietnam has the second-largest market, after China, for nuclear power in East Asia, and our companies can now compete," said Kerry. "What is a $10 billion market today is expected to grow into a $50 billion market by the year 2030."
The U.S. companies will find, however, that other exporters have a head start. Russia's Rosatom will start building Vietnam's first two reactors as soon as next year and has committed to some of the others. So has Japan, through a consortium of Mitsubishi, Toshiba and Hitachi, according to WNA.