Energy companies from Malaysia, Singapore and Vietnam signed an agreement on 26 May to explore the supply of renewable power from Vietnam to Malaysia and Singapore.
Malaysia's MY Energy Consortium, established by state-owned utility Tenaga Nasional Berhad (TNB) and state-owned energy firm Petronas, will work with a consortium consisting of PetroVietnam Technical Services — which is a member of Vietnam National Industry – Energy Group — and Singapore's Sembcorp Utilities, a wholly-owned subsidiary of energy firm Sembcorp Industries.
The firms will explore pathways for a scalable model of cross-border renewable energy co-operation in southeast Asia, and they will focus on how to unlock Vietnam's renewable energy resources, especially wind power, which Vietnam's prime minister has underscored as a national priority.
They will evaluate the feasibility of exporting clean power from Vietnam through a new subsea cable that will be "wheeled in and through the peninsular Malaysia national grid," said Petronas. The consortia will collaborate with the relevant national authorities throughout the development process and will seek required approvals at various project phases.
"This alliance reflects the growing momentum towards a regionally integrated Asean power grid," said Petronas. Malaysia is currently the chair of the Asean group of nations, and plays a key role in encouraging the development of the regional power grid.
The Asean power grid has made some progress through the Lao PDR-Thailand-Malaysia-Singapore (LTMS-PIP) project and the Brunei Darussalam, Indonesia, Malaysia and the Philippines Power Integration Project (BIMP-PIP).
"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," said TNB's chief executive Megat Jalaluddin Megat Hassan and Petronas' chief executive Muhammad Taufik in a joint statement.
Singapore aims to import around 6GW of low-carbon electricity by 2035, and has already signed agreements with Vietnam and Malaysia to enhance collaboration on cross-border electricity trade.
