Energy companies from Malaysia, Singapore, and Vietnam have inked a joint development agreement to explore the export of renewable electricity from Vietnam to Malaysia and Singapore. The alliance between the companies reflects the growing momentum towards a regionally integrated ASEAN Power Grid.
Under this agreement, Malaysia, as represented by MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Berhad and Petroliam Nasional Berhad, will collaborate with a consortium comprising PetroVietnam Technical Services Corporation, a member of Vietnam National Industry – Energy Group (Petrovietnam) of Vietnam, and Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Singapore-based Sembcorp Industries (Sembcorp).
The consortium of companies will assess the feasibility of exporting renewable energy from Vietnam to Malaysia and Singapore through a new subsea cable, using the Peninsular Malaysia National Grid, with potential additional firming renewable energy generation and storage. The companies will closely work with the relevant national authorities throughout the development process, obtaining necessary approvals at various project stages.
