Energy companies from Singapore, Malaysia and Vietnam have signed a joint development agreement to jointly explore cross-border renewable energy links, particularly the possibility of exporting offshore wind power from Vietnam to other countries.
Under the agreement, Malaysia will be represented by the MY Energy Consortium, a consortium jointly formed by Tenaga Nasional Berhad and Petroliam Nasional Berhad, in cooperation with a consortium consisting of Vietnam Petroleum Technical Services Company (PTSC) and Sembcorp Utilities, a wholly-owned subsidiary of Singapore's Sembcorp Industries.
The agreement, announced at the ASEAN Summit in Kuala Lumpur, states that the consortium will evaluate the feasibility of transmitting renewable energy from Vietnam to Malaysia and Singapore through a new submarine cable and the national grid in Peninsular Malaysia.
Singapore aims to import about 6 gigawatts of low-carbon electricity by 2035, which will account for about a third of the country's energy needs.
Vietnam currently has several near-shore wind farms under development and operation, and expects to have an installed capacity of 6 gigawatts of offshore wind power by 2030. The government aims to have 70 GW to 91.5 GW of offshore wind capacity by 2050.
