Energy firms from Malaysia, Singapore, and Vietnam have signed an agreement to explore exporting renewable energy—mainly offshore wind—from Vietnam to Malaysia and Singapore via a new subsea cable. The partnership involves Malaysia’s MY Energy Consortium (Petronas and Tenaga) and a Vietnam-Singapore consortium (PetroVietnam Technical Services and Sembcorp Utilities). The deal supports efforts toward a regionally integrated ASEAN Power Grid.Under a new agreement, energy consortia from Malaysia, Singapore, and Vietnam will assess the feasibility of exporting Vietnamese renewable energy to Malaysia and Singapore via a subsea cable linked through Peninsular Malaysia’s grid, potentially including storage and firming capacity.
The deal was signed during the ASEAN Summit in Kuala Lumpur, where leaders advanced plans for a regional power grid. ASEAN finance ministers and central bankers also discussed a financing framework for the ASEAN Power Grid (APG). Malaysian Prime Minister Anwar Ibrahim emphasized the APG’s importance for energy resilience, sustainability, and job creation in the renewable sector.At the ASEAN Summit, Malaysian Prime Minister Anwar Ibrahim announced plans to sign an enhanced ASEAN Power Grid (APG) Memorandum of Understanding and endorse a Subsea Power Cable Development Framework in 2025, strengthening the legal basis for multilateral power trade and interconnections across the region by 2045.
The recent agreement among energy companies from Malaysia, Singapore, and Vietnam supports Singapore’s goal to import 6GW of low-carbon electricity by 2035—about a third of its future energy demand. Sembcorp CEO Wong Kim Yin emphasized Singapore’s role as a demand hub and key enabler of regional clean energy trade.The companies aim to establish a scalable model for cross-border renewable energy cooperation, boosting Southeast Asia’s global leadership in decarbonization.Separately, SunCable received conditional approval from Singapore to import 1.75 GW of renewable power from Australia via subsea cable, with the rest powering green industries in Darwin.
