8.5 GW Nuclear Capacity Expected in Southeast Asia Projected by 2037
Southeast Asia has undergone a major transformation in its energy landscape, with nuclear power being included as a driver of clean energy to enhance energy security, stimulate long-term economic, industrial, and digital technology growth. In line with long-term objectives, countries within the Association of Southeast Asian Nations (ASEAN) have positioned nuclear energy as a strategy to achieve Net Zero Emissions (NZE) targets no later than 2060. Projections indicate that the region could reach nuclear capacity of up to 8.5 GW by 2037, with total investment estimated at USD 84.15 billion and potential market revenue reaching USD 9.2 billion per year.
Frequent power outages, uneven energy distribution, and dependence on fossil fuels have driven ASEAN governments to adopt nuclear energy as a reliable and low-carbon alternative. This strategic shift is also motivated by the rapidly evolving global energy paradigm, where nuclear power has become a priority as countries worldwide strive to achieve decarbonization targets and enhance grid stability.
Southeast Asia’s Bold Leap into Nuclear Energy
Discussions on nuclear energy programs in ASEAN are not new. Several countries, such as Indonesia, Malaysia, Vietnam, and the Philippines, have previously initiated efforts but experienced fluctuations. However, they have now re-emerged with plans to build nuclear power plants (NPPs) and ambitious capacity targets. Nuclear energy is seen as a vital component of their energy mix, capable of enhancing energy security and supporting economic development.
Indonesia, through its energy roadmap in The Electricity Supply Business Plan (Rencana Usaha Penyediaan Tenaga Listrik, RUPTL) 2025-2034, has set a target capacity of 500 MW, to be achieved no later than 2034. Meanwhile, the Philippines, in its national energy plan, has set a staged nuclear capacity target, reaching a total of 2,400 MW by 2035 and 4,800 MW by 2050. Furthermore, Vietnam emerges as the country with the most significant nuclear energy development steps, through plans to build two Ninh Thuan NPPs with a target capacity of 4,000 MW by 2035. Thailand is also preparing a nuclear energy strategy with a target capacity of 600 MW by 2037. Malaysia is the latest country to announce an ambitious nuclear project through the 13th Malaysia Plan (Rancangan Malaysia Ketiga Belas, RMK13) 2026–2030, projecting a target capacity of 1,000 MW by 2031. As a result, ASEAN’s nuclear capacity is projected to reach 8 GW by 2035, demonstrating the region’s readiness to become a new nuclear energy hub in Asia.
Regional Synergies Fueling Nuclear Growth
Countries in the region are actively advancing their nuclear programs through a combination of regulatory reforms, national synergies, international partnerships, and targeted infrastructure investments. Vietnam, for instance, is pioneering nuclear projects through a structured and multifaceted approach that includes strengthening sustainable nuclear regulations, measuring capacity and technology planning, and regional energy integration. Although its nuclear project was halted in 2016 due to economic reasons, Vietnam has rebounded with plans to construct two Ninh Thuan NPPs as its first NPPs, considering Small Modular Reactor (SMR) and large-scale reactor technologies. The government also established a Steering Committee to coordinate NPP development, bringing together various ministries and relevant agencies. Two state-owned enterprises, Vietnam Electricity (EVN) and Petrovietnam (PVN), were appointed as the main investors for Ninh Thuan 1 & 2, responsible for feasibility studies, licensing, and project implementation. Substantial efforts, including revising the Atomic Energy Law, have also been made to replace the previous legislation and to collaborate with Russia for technology exploration, construction, and knowledge transfer.
Strategic efforts to initiate nuclear programs in the region have also been undertaken by Malaysia. Through RMK13, released in late July 2025, the government has designated MyPOWER Corp as the Nuclear Energy Program Implementing Organization (NEPIO) to align governance with International Atomic Energy Agency (IAEA) standards, reaffirming a strong renewed commitment after the nuclear project was halted in 2018. Even smaller countries, like Singapore, are exploring nuclear energy based on a strong foundation in technology, regulation, finance, and human resources to launch nuclear programs.
Considering the wide regional landscape and unique geographical conditions, SMR technology is viewed as an ideal model due to its compact size, safety, and adaptability to the environment. SMRs can potentially be deployed in remote locations to support more evenly distributed power supply. This technology can also be implemented on shipyards, creating floating nuclear power plants (FNPPs), offering greater flexibility in electricity distribution and suitability for the region’s archipelagic geography. The adoption of SMR and FNPP technology in ASEAN is considered promising, with SMR Levelized Cost of Energy (LCOE) ranging from USD 85–94/MWh and FNPP LCOE from USD 150–190/MWh, capable of generating multiple-fold higher revenues.
ASEAN countries are also strengthening their nuclear capabilities by investing in nuclear science education, research, and professional training. Malaysia, for example, through their Ministry of Science, Technology and Innovation (MOSTI), implements empowerment programs via training, internships, and inclusive communication. Vietnam also invests in training programs and infrastructure development to support the construction and operation of upcoming NPPs. Countries actively develop educational programs in collaboration with international partners to train specialists in nuclear technology and safety.
Nuclear Energy as a Catalyst for ASEAN’s Economic and Industrial Growth
The expansion of nuclear energy in Southeast Asia opens significant long-term economic and industrial benefits. In the advanced reactor development landscape, SMR investment costs per kWe are generally lower than those of large-scale reactors, making SMRs easier to finance, particularly for phased deployment, and more affordable for many utilities. Multi-unit SMR plants also offer greater flexibility for utilities operating in smaller grids. Transmission infrastructure requirements for SMRs are smaller compared to large-scale reactors, making them suitable for deployment in more locations.
The development of nuclear energy infrastructure in the region not only fosters a strong supply chain and increases demand across various sectors but also emphasizes the importance of skilled workforce support through programs that train the next generation of nuclear professionals and strengthen technical capacity via cooperation with leading academic institutions and international organizations. Beyond providing stable power with capacity factors exceeding 90%, nuclear energy has the potential to deliver substantial economic dividends, including significant contributions to GDP, job creation, household income improvement, technology transfer, and enhanced regulatory frameworks, making it an attractive investment opportunity for international reactor vendors, financial institutions, and engineering companies in the region.
These efforts also enable countries to achieve energy independence and even position them as exporters of clean energy to neighboring nations. With a projected new nuclear capacity of 8.5 GW by 2037 and potential investments worth USD 84.15 billion, the opportunities are substantial. The region is rapidly strengthening regulatory frameworks, developing supply chains, and advancing workforce training to establish itself as a key player in the global nuclear industry. As regulatory frameworks deepen and international partnerships expand, ASEAN is on track to build a resilient, cost-efficient, and sustainable nuclear energy future.
