Vietnam agrees to export clean electricity to Malaysia and Singapore

On the afternoon of May 26, in Kuala Lumpur, Malaysia, Prime Minister Pham Minh Chinh , Malaysian Prime Minister Anwar Ibrahim and Singaporean Prime Minister Lawrence Wong witnessed the signing ceremony of a development cooperation agreement between leading energy corporations of the three countries on exporting renewable electricity from Vietnam to Malaysia and Singapore.

Prime Minister Pham Minh Chinh, Malaysian Prime Minister Anwar Ibrahim and Singaporean Prime Minister Lawrence Wong witnessed the signing ceremony of a cooperation agreement between leading energy corporations of the three countries on the export of renewable electricity from Vietnam to Malaysia and Singapore. (Photo: VGP/Nhat Bac)

The three Prime Ministers witnessed the ceremony on the occasion of attending the 46th ASEAN Summit.

This event marks an important first step in the implementation of the tripartite cooperation, affirming the common commitment to promote cross-border clean electricity trade. It is also an important milestone, demonstrating the common determination to realize the vision of an ASEAN power grid and enhance regional energy connectivity in a more sustainable and resilient manner.

Under this agreement, Malaysia, through the Malaysian Energy Consortium (MYEC) between Tenaga Nasional Berhad (TNB) and Petroliam Nasional Berhad (PETRONAS), will cooperate with the Vietnam Oil and Gas Technical Services Corporation ( PTSC ), a member of the Vietnam National Energy Industry Group (Petrovietnam) and Sembcorp Utilities Pte Ltd, a subsidiary of Sembcorp Industries (Singapore) to exploit Vietnam's abundant renewable energy potential, especially offshore wind power, to produce clean electricity and supply electricity across borders.

Under the agreement, the parties will jointly study the feasibility of exporting clean electricity from Vietnam to Malaysia and Singapore via submarine cables, connecting to the national grid of Peninsular Malaysia, and consider the possibility of additional power sources and storage systems to ensure stability.

The parties will closely coordinate with the relevant authorities of the countries involved throughout the project development process, gradually completing the necessary approval procedures to contribute to promoting grid connection and cross-border energy cooperation.

This tripartite agreement marks an important step forward in developing cross-border green infrastructure, exploiting Vietnam's renewable energy potential, towards opening a scalable cross-border renewable energy cooperation model in Southeast Asia, thereby making the region a global model for decarbonization and energy transition solutions based on cooperation.

This is a testament to the efforts to promote regional energy integration and realize the ASEAN power grid.

As a member of ASEAN, Vietnam is promoting its strategic vision to become a regional renewable energy hub, with a strong commitment to developing clean energy, reducing emissions and meeting the growing energy demand in Southeast Asia.

Through this tripartite cooperation, Vietnam aims to open up new economic opportunities, promote green growth, create high-quality jobs, and strengthen ASEAN's shared commitment to a sustainable, low-emission energy ecosystem.

"This agreement demonstrates the role of PTSC in particular and PVN in general in realizing energy transition strategies. This will be an important milestone in the field of renewable energy investment in Vietnam," said Mr. Tran Ho Bac - General Director of PTSC.

At a joint press conference on May 25 with Prime Minister Pham Minh Chinh, Malaysian Prime Minister Anwar Ibrahim highly appreciated the vision of ASEAN power grid cooperation, in which the submarine cable transmission line from Vietnam to Malaysia will be a giant project demonstrating the success of ASEAN as well as cooperation between the two countries, helping to realize and concretize cooperation programs that are very suitable for the energy transition policy and renewable energy development of the two countries and the whole region.

(Source: Government Newspaper)

Link: https://baochinhphu.vn/viet-nam-thoa-thuan-xuat-khau-dien-sach-sang-malaysia-va-singapore-10225052618433672.htm

Source: https://vtcnews.vn/viet-nam-thoa-thuan-xuat-khau-dien-sach-sang-malaysia-va-singapore-ar945370.html