Viet Nam to export renewable energy to Malaysia, Singapore

The agreement was signed on the sidelines of the 46th ASEAN Summit in Kuala Lumpur, Malaysia on May 25 under the presence of Vietnamese Prime Minister Pham Minh Chinh and his Malaysian and Singaporean counterparts Anwar Ibrahim and Lawrence Wong.

This event marks the first step in the implementation of the tripartite cooperation, affirming the common commitment to promoting cross-border clean electricity trade.

This is also an important milestone, demonstrating the common determination to materialize the vision of an ASEAN power grid and enhance regional energy connectivity in a more sustainable and flexible manner.

Under the agreement, Malaysia, represented by MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Bhd (TNB) and Petroliam Nasional Bhd (Petronas), will collaborate with a consortium comprising Petrovietnam Technical Services Corporation (PTSC), a member of Viet Nam National Industry–Energy Group (Petrovietnam), and Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Singapore-based Sembcorp Industries (Sembcorp) to tap Việt Nam's abundant renewable energy potential, especially offshore wind power, to produce clean electricity and supply cross-border electricity.

Earlier, Viet Nam's Power Development Plan 8 (PDP8) outlines ambitious export goals to sell 400 MW of renewable electricity to Cambodia and between 5 and 10 GW to countries like Singapore and Malaysia by 2035. These plans align with the ASEAN Power Grid initiative, aiming to enhance regional energy security and integration.

Viet Nam boasts significant offshore wind resources including over 470 GW within 200 km of the coast, offering substantial opportunities for both domestic use and exports. PDP8 targets 6 GW of offshore wind capacity by 2030, with a long-term vision exceeding 70 GW by 2050./.