In a significant step towards regional energy cooperation, Malaysia, Singapore, and Vietnam have signed a Joint Development Agreement to explore the export of renewable electricity from Vietnam to Malaysia and Singapore. The agreement, witnessed by the leaders of all three nations on the sidelines of the ASEAN Summit, underscores ASEAN’s commitment to energy security, sustainability, and net-zero emissions.
The collaboration brings together MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Berhad (TNB) and Petronas, alongside Sembcorp Utilities, a wholly owned subsidiary of Sembcorp Industries, and PetroVietnam Technical Services Corporation (PTSC), a member of Vietnam National Industry – Energy Group (Petrovietnam).
Under the agreement, the consortiums will evaluate the feasibility of exporting offshore wind-generated renewable energy from Vietnam via a new subsea cable, which will be integrated into the Peninsular Malaysia National Grid before being transmitted to Singapore.
“This initiative is a testament to ASEAN’s commitment to energy security and sustainability,” said Malaysia’s Deputy Prime Minister Fadillah Yusof, who also serves as Energy Transition and Water Transformation Minister. “By leveraging Vietnam’s abundant renewable energy resources, we are taking a bold step towards achieving net-zero emissions and strengthening regional energy cooperation.”
Singapore’s Prime Minister Lawrence Wong echoed this sentiment, stating, “These efforts are part of our broader vision for an ASEAN Power Grid, connecting our region with a more resilient and reliable energy supply. Step by step, we are making this vision a reality.”
The agreement underscores ASEAN’s commitment to cross-border energy collaboration, fostering economic growth while accelerating the transition to clean energy. The consortiums will work closely with national authorities throughout the development process, securing necessary approvals at various project phases to ensure seamless implementation.
With feasibility studies set to commence, stakeholders anticipate significant progress by the ASEAN Ministers on Energy Meeting in October.
