The agreement involves Malaysia’s MY Energy Consortium, formed by Tenaga Nasional Berhad and Petroliam Nasional Berhad, working alongside a consortium of PetroVietnam Technical Services Corporation (PTSC) and Sembcorp Utilities, a subsidiary of Singapore-based Sembcorp Industries. Announced during an ASEAN summit in Kuala Lumpur, the partnership will assess the feasibility of transmitting renewable energy from Vietnam to Malaysia and Singapore through a new subsea cable linked to the Peninsular Malaysia National Grid.
Datuk Ir. Megat Jalaluddin Megat Hassan, President/Chief Executive Officer of Tenaga Nasional Berhad, and Tan Sri Tengku Muhammad Taufik, President and Group Chief Executive Officer of PETRONAS, stated: “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. 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.” The collaboration is seen as a model for scalable renewable energy cooperation in the region.
Singapore aims to import approximately 6 GW of low-carbon electricity by 2035, meeting about one-third of its energy needs. Vietnam, with several nearshore wind farms in operation and development, has set a target of 6 GW of offshore wind capacity by 2030, with ambitions to reach 70–91.5 GW by 2050. This agreement leverages Vietnam’s growing renewable energy capacity to support the energy demands of neighboring countries.
The initiative aligns with the ASEAN Power Grid vision, promoting regional energy security and sustainable development through shared infrastructure. By exploring cross-border energy links, the partnership seeks to deliver reliable, low-carbon electricity to businesses and communities across Singapore, Malaysia, and beyond.
