Leading energy companies from Malaysia, Singapore, and Vietnam have entered into a Joint Development Agreement to assess the feasibility of exporting renewable electricity from Vietnam to Malaysia and Singapore, according to PetroVietnam's release.
The Malaysian side is represented by MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Berhad (TNB) and Petroliam Nasional Berhad (PETRONAS).
Their counterparts include a consortium comprising PetroVietnam Technical Services Corporation (PTSC), a member of Vietnam National Industry – Energy Group (Petrovietnam), and Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Singapore-based Sembcorp Industries.
The collaboration focuses on harnessing Vietnam’s offshore wind power potential to generate renewable electricity for cross-border supply.
The project entails evaluating the construction of a new subsea cable to transmit electricity from Vietnam through Peninsular Malaysia to Singapore, with considerations for additional renewable energy generation and storage to ensure supply stability.
As Malaysia holds the ASEAN Chairmanship in 2025, this initiative aligns with the ASEAN Power Grid vision to enhance regional energy security.
The formal agreement exchange ceremony was held on the sidelines of the ASEAN Summit in Kuala Lumpur on May 26, 2025, marking a significant step towards operationalizing the tripartite collaboration and reinforcing regional cooperation for a sustainable energy future.
Tenaga Nasional Berhad (TNB) is Malaysia's largest electricity utility company, responsible for the generation, transmission, and distribution of electricity across Peninsular Malaysia.
Petroliam Nasional Berhad (PETRONAS) is Malaysia's national oil and gas company, engaged in a comprehensive range of petroleum activities.
PetroVietnam Technical Services Corporation (PTSC) is a subsidiary of PetroVietnam, specializing in providing technical services to the oil and gas industry.
Sembcorp Utilities Pte Ltd is a wholly-owned subsidiary of Sembcorp Industries, Sembcorp Utilities is involved in energy and water solutions.