At the Joint Development Agreement Exchange Ceremony in Malaysia on May 26, 2025. (Source: VNA)

This event marks the first step in the implementation of the tripartite cooperation, affirming the common commitment to promoting cross-border clean electricity trade. This is also an important milestone, demonstrating the common determination to realise the vision of an ASEAN power grid and enhance regional energy connectivity in a more sustainable and flexible manner.

Under the agreement, Malaysia, represented by MY Energy Consortium, an unincorporated consortium established by Tenaga Nasional Bhd (TNB) and Petroliam Nasional Bhd (Petronas), will collaborate with a consortium comprising Petrovietnam Technical Services Corporation (PTSC), a member of Vietnam National Industry–Energy Group (Petrovietnam), and Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Singapore-based Sembcorp Industries (Sembcorp) to tap Vietnam's abundant renewable energy potential, especially offshore wind power, to produce clean electricity and supply cross-border electricity.

The parties will jointly study the feasibility of exporting clean electricity from Vietnam to Malaysia and Singapore via submarine cables, connecting to the national grid of Peninsular Malaysia, and consider the possibility of additional power sources and storage systems to ensure stability.

Relevant parties will coordinate closely with government agencies throughout the project development process, while completing necessary approval procedures to help promote grid connectivity and cross-border energy cooperation.

This trilateral agreement marks a significant milestone in developing cross-border green infrastructure and harnessing Vietnam's renewable energy potential. The partnership aims to establish an expandable model for cross-border renewable energy cooperation throughout Southeast Asia, positioning the region as a global exemplar for carbon reduction solutions and energy transition based on collaboration foundation. The initiative demonstrates efforts to accelerate regional energy integration and realise the ASEAN Power Grid vision.

As an ASEAN member, Vietnam is advancing its strategic vision to become the region's renewable energy hub, with strong commitments to clean energy development, emissions reduction, and meeting Southeast Asia's growing energy demands. Through this trilateral cooperation, Vietnam seeks to unlock new economic opportunities, promote green growth, create high-quality employment, while reinforcing ASEAN's collective commitment to a sustainable energy ecosystem with low emission.