Singapore, Vietnam boost cooperation in renewable energy exports

The packages are designed to provide accurate data on the natural and technical conditions at the project site. The work includes collecting wind data, measuring hydrological parameters, conducting geological surveys of the seabed, assessing the potential for wind power exploitation and identifying advanced technologies for developing the offshore wind power system.

The project, one of the strategic cooperation between the two nations in the field of clean energy, was launched early last year through the signing of a
Joint Development Agreement (JDA) on investment cooperation and export of clean energy from Vietnam to Singapore within the framework of Prime
Minister Pham Minh Chinh's official visit to Singapore.

In his speech, Chairman of the Board of Directors of the Vietnam Oil and Gas Group (PVN) Le Manh Hung highlighted the event's importance,
considering it a milestone in the field of offshore renewable energy of both countries.

He showed his confidence that the PTSC-Sembcorp alliance will overcome difficulties to carry out the project, becoming a symbol of energy cooperation between the two countries.

Hung said he hopes that the project will contribute to materializing Vietnam's goal of achieving net zero emissions by 2050, and clearly shows the determination of the Vietnamese Government in implementing its 8th power plan.

Wong Kim Yin, CEO of Sembcorp Industries, affirmed this is an important mark in cooperation between agencies on energy management in general and the project in particular, while highlighting Sembcorp's contribution to Vietnam's energy sector as well as cooperation with the Vietnam Oil and Gas Corporation (PVN) and PTSC.

Given the constraints on renewable energy sources, the Energy Market Authority of Singapore (EMA) has approved importing 4GW of clean electricity by 2025 from neighbouring countries, including 1.2GW from Vietnam.

Sembcorp will import this clean electricity from Vietnam to Singapore, generated from offshore wind farms in collaboration with PTSC and transmitted through new underwater cables spanning about 1,000km.

Following full approval from the Ministry of Natural Resources and Environment of Vietnam for marine resource surveys and assessments in August last year, PTSC is projected to conduct offshore surveys in 2024 for its project aimed at exporting clean electricity to the island city nation.