Singapore and Vietnam have significantly advanced their renewable energy partnership with the endorsement of a joint report on Offshore Wind Power Trade Cooperation. The report, signed by Singapore’s Second Minister for Trade and Industry Dr. Tan See Leng and Vietnam’s Deputy Minister of Industry and Trade Nguyen Hoang Long, sets out a framework to facilitate regulatory approvals and licenses from both governments for the development of renewable energy and cross-border electricity trading. This step is designed to streamline project implementation and enable the large-scale transfer of clean energy between the two countries.
The agreement extends beyond regulatory alignment, laying the groundwork for deeper cooperation in infrastructure development, research, technology, and capacity-building. Both countries reaffirmed their commitment to collaborate with other ASEAN member states to accelerate the realization of the ASEAN Power Grid by 2045, including the development of subsea power cables to support regional electricity connectivity.
A key milestone preceding this joint report was Singapore’s Energy Market Authority granting conditional approval to Sembcorp Utilities in October 2023 to import 1.2 gigawatts of low-carbon electricity from Vietnam. This electricity will be generated primarily from offshore wind projects, potentially making it the first offshore wind power trading initiative in ASEAN if realized.
This strengthened partnership between Singapore and Vietnam is expected to drive the clean energy transition in both countries, support regional sustainability goals, and serve as a precedent for future cross-border renewable energy projects in Southeast Asia.
(Source: Asian Power)
