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Malaysia Sun
27-05-2025
- Business
- Malaysia Sun
Firms of Malaysia, Vietnam, Singapore team up to advance cross-border renewable energy supply
KUALA LUMPUR, May 27 (Xinhua) -- In a move for regional energy cooperation, leading energy companies from Malaysia, Singapore and Vietnam have signed a joint development agreement to explore the export of renewable electricity from Vietnam to Malaysia and Singapore. This strategic partnership highlights the growing commitment among industry leaders to advance regional power integration and accelerate decarbonization through commercially viable solutions, the firms said in a statement. Through this agreement, Malaysia, as represented by MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Berhad (TNB) and Petroliam Nasional Berhad (Petronas), will collaborate with a consortium comprising PetroVietnam Technical Services Corporation (PTSC), 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). Together, the consortia will focus 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. This alliance reflects the growing momentum towards a regionally integrated ASEAN Power Grid. "Malaysia's participation in this initiative reflects our strong commitment to the ASEAN Power Grid vision, which aims to strengthen regional energy security through the creation of a power transit hub," said members of MY Energy Consortium Megat Jalaluddin Megat Hassan, also president/chief executive officer of TNB, and Muhammad Taufik, president and group chief executive officer of Petronas. According to them, this tripartite partnership is a step forward in advancing transnational green infrastructure, tapping into Vietnam's renewable energy potential, and delivering stable, low-carbon electricity to communities and businesses. Meanwhile, Tran Ho Bac, president and chief executive officer of PTSC, said this agreement highlights the role of PTSC in particular, and PVN as a whole, in advancing national energy transition strategies. Wong Kim Yin, group president and chief executive officer of Sembcorp Industries, said this agreement highlights Singapore's strategic role as a demand center and a key enabler of cross-border power imports to support its decarbonization goals. According to the statement, this agreement endeavors to open pathways for a scalable model of cross-border renewable energy cooperation in Southeast Asia, which would position the region as a global leader in collaborative decarbonization and energy transition. The formal agreement exchange ceremony between MY Energy Consortium, PTSC and Sembcorp was held on the sidelines of the ASEAN Summit in Kuala Lumpur, Malaysia on Monday.
Straits Times
26-05-2025
- Business
- Straits Times
Vietnam to Malaysia and Singapore: The Power Is Yours
Renewable energy from Vietnam, especially wind, is set for export to Malaysia and Singapore via an undersea cable. PHOTO: ST FILE Companies ink deal to export renewable energy from Vietnam to Malaysia, Singapore at Asean Summit - Malaysia, Singapore and Vietnam will jointly explore the export of renewable energy following an agreement signed by their government-linked firms on May 26 to collaborate on developing a new electricity link . The signing, witnessed by leaders of all three countries at the sidelines of the Asean Summit chaired by Malaysia, will evaluate the feasibility of Vietnam sending power – particularly offshore wind – via subsea cable to Peninsular Malaysia's northeastern coast before being transmitted overland to Singapore. This represents the latest push from the regional grouping to establish an Asean Power Grid (APG) aimed at strengthening energy security and achieving net zero emissions. Malaysia's deputy premier Fadillah Yusof, who is also Energy Transition and Water Transformation Minister, told reporters after the signing ceremony that technical and business details are yet to be fully outlined. But Prime Minister Anwar Ibrahim has been bullish on the project, extolling its economic viability over other options and telling The Straits Times and selected regional media in a May 25 interview that the deal was 'considered done.' The collaboration sees a consortium comprising Sembcorp Utilities, a wholly-owned subsidiary of Singapore-based Sembcorp Industries, and PetroVietnam Technical Services Corporation (PTSC), a member of Vietnam National Industry – Energy Group (Petrovietnam), joining hands with Malaysia's MY Energy Consortium, an unincorporated consortium established by national electricity provider Tenaga Nasional Berhad (TNB) and state oil giant Petronas. Under the agreement, the partners 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 consortia said in a joint statement. 'To this end, the consortia will work closely with the relevant national authorities throughout the development process, seeking necessary approvals at various project phases, and paving the way for this significant regional power integration and energy interconnection,' according to the statement. In a Facebook post on May 26 about the joint agreement, Singapore's Prime Minister Lawrence Wong said: '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.' Sembcorp and PTSC had in 2023 already inked a letter of intent for 1.2 gigawatts (GW) of renewable energy to be imported into the city-state which could begin by 2033. According to Datuk Seri Fadillah, the undersea cable will be underwritten by Petronas and TNB. 'Part of (the energy) will go to Singapore, part of it will go to Malaysia,' he said. However, as to who will bear the cabling cost, TNB president and chief executive officer Megat Jalaluddin Hassan said 'we have yet to come to that'. 'The next step for us is to go into the feasibility study, which will then determine the level and depth of the venture we will be undertaking,' he told reporters after the signing. He said that the consortiums involved in the project are hopeful that 'we can have something that shows our progress' by October's Asean Ministers on Energy Meeting. On May 25, Malaysia's Investment, Trade and Industry Minister Tengku Zafrul Aziz said negotiations on an enhanced memorandum of agreement for the APG are set to conclude at the same energy ministers meet. Another key connection for the APG is the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP), launched in 2022 to send 100 megawatts (MW) of renewable energy from Laos to Singapore. A second phase announced in 2024 doubled this amount. However, key stakeholders have acknowledged that intermediates countries, especially Thailand, need to upgrade their grids to handle larger loads in the gigawatts. Mr Fadillah had said that the Thai-Malaysia interconnection, 'commissioned in the early 2000s, is ageing. Its reliability has fallen below standards due to obsolescence, and our countries are finding it increasingly challenging to maintain the facilities.' 'As Malaysia and Thailand progress in integrating more renewable energy into our grids, the reliability of our interconnection becomes even more critical,' he said after a courtesy call on Thailand's Deputy Prime Minister Pirapan Salirathavibhaga, who also serves as the Energy Minister, on May 22. University of Malaya's international and strategic studies senior lecturer Lam Choong Wah told ST that as Vietnam harnesses offshore wind energy as a renewable source, transmitting the generated power via undersea cables is both more 'economically sensible and technically feasible' as compared to building an overland transmission line through Thailand and Cambodi a. He added that this approach is estimated to save nearly 1,000 kilometers in distance compared to the overland route. 'The question is who will pay for the upgrades. Thailand already controls most of the renewable energy from Laos,' a diplomatic source with knowledge of the matter told ST. Thailand has been buying renewable energy from Laos for over two decades, with import volumes reaching 6 GW. Shannon Teoh is The Straits Times' bureau chief for Malaysia, where he has reported on various beats since 1998. Lu Wei Hoong is Malaysia correspondent at The Straits Times, specialising in transport and politics. Join ST's WhatsApp Channel and get the latest news and must-reads.
Business Times
26-05-2025
- Business
- Business Times
Four energy companies from Malaysia, Singapore, Vietnam ink deal to explore clean energy export from Vietnam
[KUALA LUMPUR] Four energy companies from Malaysia, Singapore and Vietnam have inked an agreement to explore the export of renewable electricity from Vietnam to the other two countries. 'Together, the consortia will focus 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,' said a joint statement from the four companies on Monday (May 26). The joint development agreement was signed at the sidelines of the 46th Asean Summit in Kuala Lumpur, Malaysia. Malaysia was represented by MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Berhad (TNB) and Petroliam Nasional Berhad (Petronas). It will collaborate with another consortium comprising PetroVietnam Technical Services Corporation (PTSC) and Sembcorp Utilities. PTSC is a member of Vietnam National Industry - Energy Group (Petrovietnam), while Sembcorp Utilities is a wholly owned subsidiary of Singapore-headquartered Sembcorp Industries. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The alliance reflects the 'growing momentum' towards a regionally integrated Asean Power Grid, said the statement issued by TNB, Petronas, PTSC and Sembcorp. Under the agreement, the consortia will evaluate the feasibility of exporting renewable energy from Vietnam to Malaysia and Singapore via a new subsea cable. This will be wheeled into and through the Peninsular Malaysia National Grid with potential additional firming renewable energy generation and storage, the statement added. The consortia also pledged to work closely with the relevant national authorities throughout the development process, seeking necessary approvals at various project phases and paving the way for this 'significant regional power integration and energy interconnection'. The companies added that they hope for the agreement to 'open pathways for a scalable model' of cross-border renewable energy cooperation in South-east Asia. Singapore's target is to import around 6 gigawatts of low-carbon electricity by 2035, which will be about one-third of its energy demand then.
Korea Herald
27-02-2025
- Business
- Korea Herald
LS Eco Energy to expand into Vietnam's submarine cable market
LS Eco Energy announced Thursday that representatives from Petro Vietnam Technical Service, a subsidiary of Vietnam's state-owned energy group Petro Vietnam, visited LS Cable & System's submarine cable factory in Gangwon Province to discuss potential cooperation. The visit marks a key step in expanding the company's submarine cable business in Vietnam and Southeast Asia. It plans to collaborate with PTSC and its affiliates and LS Marine Solution to review the production and supply chain for submarine cables. 'Vietnam is rapidly emerging as a renewable energy hub in Southeast Asia, and submarine cables are a key infrastructure component for expanding the renewable energy supply chain,' LS Eco Energy CEO Lee Sang-ho stated. 'We aim to lead the Southeast Asian market alongside LS Marine Solution, leveraging our technology and supply chain capabilities.' PTSC is currently planning a major project to transmit renewable energy generated from Vietnam's offshore wind farms to Singapore via submarine cables. LS Eco Energy is exploring ways to collaborate on this project, while LS Marine Solution is seeking routes for overseas expansion. Additionally, LS Marine Solution is considering involvement in submarine optical cable projects connecting North America and Asia. With global demand for submarine communication infrastructure rising, LS Marine Solution plans to establish a business office in Vietnam. It intends to finalize new vessel investments within the year and strengthen cooperation with local businesses.
