Singaporean company granted conditional approval to import renewal energy from Vietnam

SCU is a partner of Petrovietnam Technical Services Corporation (PTSC) in an investment and development cooperation project to build an offshore wind power farm in Ba Ria - Vung Tau province of Vietnam, to export electricity to Singapore.

The project is expected to have a capacity of about 2.3 GW, with an energy storage battery system to export about 1.2 GW to Singapore through a 1,000km-long high-voltage submarine cable line. The project motivates to help Singapore soon achieve its goal of importing 4 GW of clean electricity by 2035 and carbon neutrality by the middle of the 21st century.

Speaking at the event, Vietnamese Minister of Information and Communications Nguyen Manh Hung assessed Singapore’s granting of conditional approval marked a very notable milestone in the energy cooperation relationship between Vietnam and Singapore, especially when they are celebrating the 50th anniversary of the establishment of their diplomatic relations and the 10th anniversary of their Strategic Partnership.

Singaporean Minister for Manpower and Second Minister for Trade and Industry Tan See Leng said that Singapore and Vietnam have a close relationship and share a common goal of achieving net zero emissions by 2050.

In October 2022, the two countries signed a Memorandum of Understanding on energy cooperation, affirming their commitment to support and facilitate clean energy transition and decarbonisation efforts in the region, including cross-border electricity trading.

Thanking the Vietnamese Government for supporting the cooperation between Sembcorp and PTSC in cross-border electricity trading activities, the Singaporean official said it is only the first step in the cooperation between the two countries which need to continue to work closely together to realise the project.

He said the an approximately 1,000 km power transmission line between the two countries could be "the longest distance ever".

General Director of the Vietnam Oil and Gas Group Le Manh Hung emphasised that PTSC is currently Petrovietnam's pioneer company in the field of offshore wind power.

He pledged to provide all necessary support for PTSC to develop and maintain its pioneering position in this field. He expressed his belief that PTSC and Sembcorp can combine the strengths of both sides to bring about synergistic effects.