Exploring Cross-Border Renewable Energy Links in Southeast Asia
Energy companies from Singapore, Malaysia, and Vietnam have recently come together to sign a joint development agreement with a focus on exploring cross-border renewable energy links. The primary goal of this collaboration is to export offshore wind power from Vietnam to neighboring countries.
Partnership Details
Represented by MY Energy Consortium, Malaysia has joined hands with a consortium comprising PetroVietnam Technical Services Corporation (PTSC) and Sembcorp Utilities from Singapore. This partnership aims to evaluate the feasibility of exporting renewable energy from Vietnam to Malaysia and Singapore through the development of a new subsea cable and integration into the Peninsular Malaysia National Grid.
ASEAN Power Grid Vision
Members of the MY Energy Consortium, including Datuk Ir. Megat Jalaluddin Megat Hassan and Tan Sri Tengku Muhammad Taufik, expressed their commitment to the ASEAN Power Grid vision. They believe that this tripartite partnership is a significant step towards enhancing transnational green infrastructure, leveraging Vietnam’s renewable energy potential, and supplying stable, low-carbon electricity to communities and businesses.
Scalable Model of Cooperation
The agreement between the energy companies is expected to pave the way for a scalable model of cross-border renewable energy cooperation in Southeast Asia. Singapore, with a target to import 6 GW of low-carbon electricity by 2035, sees this partnership as a crucial step in meeting one-third of its energy demand.
Rising Renewable Energy Targets
Vietnam, on the other hand, has ambitious renewable energy targets, including a 2030 goal of 6 GW of offshore wind power. The government aims to achieve a capacity between 70 GW and 91.5 GW by 2050, showcasing its commitment to sustainable energy development.
Overall, this collaboration between energy companies from Singapore, Malaysia, and Vietnam signifies a significant milestone in promoting regional energy security, enhancing green infrastructure, and fostering sustainable energy cooperation in Southeast Asia.