Malaysia, Singapore, Vietnam sign deal on renewable power export
The deal will involve the export of energy from sources that include offshore wind power, from Vietnam to Malaysia and Singapore. PHOTO: REUTERS
KUALA LUMPUR - Malaysia, Singapore and Vietnam have signed an agreement to export renewable electricity, Malaysia's state news agency Bernama reported on May 26 .
The deal will involve the export of energy from sources that include offshore wind power, from Vietnam to Malaysia and Singapore, it said.
The agreement involves Malaysia's state electricity provider Tenaga Nasional and energy firm Petronas, Vietnam's PetroVietnam Technical Services Corporation, and Sembcorp Utilities of Singapore.
The joint development agreement exchange ceremony was witnessed by Malaysia's Prime Minister Anwar Ibrahim on the sidelines of the Asean Summit in Kuala Lumpur on May 26 .
Sembcorp Industries, the parent company of Sembcorp Utilities, said in a statement that under the agreement, the companies will evaluate the feasibility of exporting renewable energy from Vietnam to Malaysia and Singapore via a new subsea cable, wheeled in and through the Peninsular Malaysia National Grid.
The focus of the joint venture will be 'on unlocking Vietnam's rich renewable energy resources – particularly offshore wind power – as a source for green electron generation and to supply clean electricity across borders', Sembcorp added.
Malaysia's Deputy Prime Minister Fadillah Yusof, also Energy Transition and Water Transformation Minister, said that the cooperation is part of the Asean Power Grid project, an initiative to ensure energy security for the Asean region by connecting the power infrastructure across different countries.
Singapore's target is to import around 6GW of low-carbon electricity by 2035, which is around one-third of the nation's energy demand then. This is a 50 per cent increase from the previous target of 4GW, which was set in 2021. REUTERS, THE STAR/ASIA NEWS NETWORK
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