Leading energy companies from Malaysia, Vietnam and Singapore have signed a Joint Development Agreement (JDA) to explore the export of renewable electricity from Vietnam to Malaysia and Singapore.
The agreement marks a significant step towards advancing regional energy integration and decarbonisation. The Malaysian side is represented by the MY Energy Consortium, an unincorporated consortium formed by Tenaga Nasional Berhad (TNB) and Petroliam Nasional Berhad (PETRONAS). It will collaborate with a consortium comprising PetroVietnam Technical Services Corporation (PTSC), a member of the Vietnam National Industry – Energy Group (Petrovietnam), and Sembcorp Utilities Pte Ltd, a wholly owned subsidiary of Singapore-based Sembcorp Industries. The trilateral partnership will focus on tapping Vietnam’s offshore wind potential and evaluating the feasibility of transmitting clean electricity across borders via a new subsea cable. The electricity would be wheeled through Peninsular Malaysia’s national grid, with possible support from additional firming renewable generation and storage capacity.