Malaysia, Vietnam, Singapore Unite on Clean Power Deal

three business men shaking hands with their corporate energy company logos behind them
Environment Corporate News Offshore Asia
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Top energy firms from Malaysia, Vietnam, and Singapore have signed a joint development agreement aimed at exporting clean energy from Vietnam to its Southeast Asian neighbors. The agreement was formalized during the ASEAN Summit and is seen as a significant advancement toward regional power connectivity under the ASEAN Power Grid framework.

The trilateral agreement brings together Malaysia’s Malaysian Energy Consortium (MYEC)—a joint venture between Tenaga Nasional Berhad (TNB) and Petronas—Vietnam’s Petrovietnam Technical Services Corporation (PTSC), and Sembcorp Utilities from Singapore, a division of Sembcorp Industries.

This partnership will focus on harnessing offshore wind energy in Vietnam to generate renewable electricity, which will be transmitted via undersea cables to Peninsular Malaysia. There are also future plans to expand the transmission network to include Singapore.

As part of the deal, the three companies will collaborate on feasibility studies exploring aspects such as cross-border grid connectivity, transmission infrastructure, and energy storage integration to maintain consistent energy flow. The initiative is expected to be carried out in alignment with national regulatory bodies and is anticipated to strengthen regional energy stability while contributing to decarbonization efforts.

“This tripartite partnership is a milestone in developing cross-border green infrastructure. It supports our ambition to build an electricity transit hub for the ASEAN Power Grid,” said MYEC representatives Datuk Ir. Megat Jalaluddin Megat Hassan and Tan Sri Tengku Muhammad Taufik, CEO of Petronas in a joint statement.

Vietnam is positioning itself as a leader in renewable energy development, with a strong focus on offshore wind as part of its national energy policy. “This agreement reflects PTSC and Petrovietnam’s role in driving Vietnam’s energy transition. It marks a new phase of renewable energy investment,” noted Tran Ho Bac, general director of PTSC.

Singapore, targeting the import of 6GW of low-carbon electricity by 2035, sees the agreement as pivotal to its clean energy plans. “This initiative reaffirms Singapore’s role as a regional energy hub and supports our emissions reduction commitments,” added Wong Kim Yin, Group CEO of Sembcorp Industries.