Agreement signed that could see power from Vietnamese offshore wind exported to Malaysia and Singapore

The companies said the plan “highlights the growing commitment among industry leaders to advance regional power integration and accelerate decarbonisation through commercially viable solutions.” They said it “reflects growing momentum towards a regionally integrated ASEAN power grid.”

Under the agreement, MY Energy Consortium – a consortium established by Tenaga Nasional Berhad and Petronas – will collaborate with a consortium comprising PetroVietnam Technical Services Corp and Sembcorp Utilities Pte Ltd. Together, the consortia will focus on unlocking Vietnam’s rich renewable energy resources – particularly offshore wind – as a source of green electricity to supply clean electricity across borders. 

Under the agreement, the consortia will evaluate the feasibility of exporting renewable energy from Vietnam to Malaysia and Singapore via a new subsea interconnector. The companies will work closely with national authorities, securing key approvals at various stages of the project, paving the way for this significant regional power integration and energy interconnection.

In a statement, the MY Energy Consortium said, “Malaysia’s participation in this initiative reflects our strong commitment to the ASEAN Power Grid vision, which aims to strengthen regional energy security through the creation of a power transit hub. This tripartite partnership is a step forward in advancing transnational green infrastructure, tapping into Vietnam’s renewable energy potential and delivering stable, low-carbon electricity to communities and businesses. It is a significant milestone in our collective journey towards achieving net zero emissions.”

Demand for clean energy is growing quickly in Singapore and in Malaysia. Singapore wants to import around 6 GW of low-carbon electricity by 2035, equivalent to around one-third of the country’s expected energy demand at that time.