KUALA LUMPUR: Malaysia is set to adopt nuclear power generation as one of its energy sources in the coming years, according to Economy Minister Rafizi Ramli.
The minister said the decision regarding the country's potential use of nuclear energy has been made, and the responsibility is being undertaken by the Energy Transition and Water Transformation Ministry (Petra) and the Science, Technology, and Innovation Ministry (Mosti).
He said this is to ensure that the legal and regulatory framework can be established in advance.
"Since the decision has been made by the National Energy Council and endorsed by the Cabinet, nuclear energy is likely to be included in the 13th Malaysia Plan (RMK-13) as one of the country's official energy sources," he told reporters after the National OGSE Blueprint Forum 2024 here today.
According to Rafizi, nuclear is a cleaner energy source compared to others, which could help the country achieve its goal of net-zero carbon emissions by 2050.
He added that the operational costs for the lifespan of nuclear energy are also more secure because they do not depend on the fluctuations of raw material prices, such as gas and coal.
He said as a result, since nuclear energy does not rely on these raw materials, its lifespan is more assured.
Rafizi also noted that many other countries have returned to nuclear power generation.
He said in addition, current nuclear technology is different from past nuclear technology, which required large facilities.
"At present, there are small modular reactors (SMRs) that are smaller, safer, and do not require high costs.
"SMRs will make it easier and cheaper to use in areas that need energy compared to conventional energy sources.
"Due to these factors, especially the SMR technology, the government has decided to study the feasibility of nuclear energy in Malaysia," he said.
When asked whether the government would fund the implementation of nuclear energy, Rafizi said the government is only establishing a comprehensive framework, including international regulations.
He said based on the current industrial model for power generation, project implementation is driven by the private sector.
"In the initial phase, the government will focus on the framework and ensure that Malaysia complies with international regulations.
"I believe that for the energy sector to be involved in nuclear energy, decisions and regulations will likely be made and overseen by the Energy Commission," he said.