The deal will enable Petrovietnam Technical Services and Sembcorp Utilities to take the next steps in their offshore renewable energy project in Vietnam to export clean electricity to Singapore. — Vietnam News
HANOI: The Petrovietnam Technical Services Corp (PTSC) and its Singaporean partner Sembcorp Utilities Pte Ltd have been granted a survey licence and a letter of content to carry out the steps related to a project on developing offshore renewable energy in Vietnam and exporting clean electricity to Singapore.
The granting ceremony, in the presence of Prime Ministers Pham Minh Chính and Lee Hsien Loong, was part of a conference held in Hanoi on Aug 29 to promote investment cooperation projects between the two countries.
The Vietnamese Natural Resources and Environment Ministry (MoNRE) handed over a decision approving the monitoring, investigation, surveying, and assessment of marine resources to PTSC, a member of the Vietnam Oil and Gas Group (Petrovietnam).
Meanwhile, the Singaporean Trade and Industry Ministry presented a letter of intent approving this project to Sembcorp.
The moves enabled the two enterprises to take the next steps in their offshore renewable energy project in Vietnam to export clean electricity to Singapore.
With this licence, PTSC is currently the first and only investor in Vietnam to have been permitted by the MoNRE to monitor, investigate, survey and assess marine resources to develop offshore wind power.
In February 2023, PTSC and Sembcorp signed a joint development agreement on the cooperation in investing in and exporting renewable electricity produced offshore Vietnam to the city state.
Accordingly, their project will turn out some 2.3GW of power and export to Singapore through a submarine cable system to meet the country’s clean electricity demand from 2030.
Sembcorp was established in 1998, with owned capital of the Singapore government. Sembcorp Industries provides solutions for energy transformation and urban development around the whole world.
It has invested in many major markets in the world such as the UK, China, the Middle East and India. — Viet Nam News/ANN
