Petronas in Vietnam-Malaysia-Singapore Regional Power Corridor

The Vietnam-Malaysia-Singapore (VMS) renewable electricity initiative has secured conditional approval from Singapore’s Energy Market Authority (EMA) for a regional power corridor The Star. This approval was granted to Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Sembcorp Industries, which is the designated importer for the proposed project The Star. The initiative aims to import up to 1.3 gigawatts (GW) of renewable electricity into Singapore, linking Vietnam, Malaysia, and Singapore The Star. The conditional approval was formally presented at the opening of Singapore International Energy Week 2026 on 26 October 2026 KLSE Screener.

What Happened: Project Background and Agreement

The VMS initiative was built upon a joint development agreement (JDA) signed in May 2025 The Star. This JDA involved a consortium comprising PetroVietnam Technical Services Corporation (PTSC), a member of Vietnam National Industry-Energy Group (Petrovietnam), and Singapore-based Sembcorp Utilities Pte Ltd (SCU) The Star. The MY Energy Consortium included Malaysia’s Tenaga Nasional Bhd (TNB) and Petroliam Nasional Bhd (PETRONAS) The Star.

Project Mechanics and Timeline

The project plans to harness Vietnam’s offshore wind resources alongside solar and battery energy storage infrastructure in Malaysia The Star. Under the proposed arrangement, renewable electricity generated in Vietnam would be transmitted through Malaysia, which acts as both a recipient and a transit country for supplies to Singapore The Star. Electricity imports are expected to commence in 2035 KLSE Screener.

Comparative View of Reporting

Both reports confirm the conditional approval from Singapore's EMA for the 1.3 GW renewable electricity import project The Star and KLSE Screener. The Star notes the initiative supports broader efforts to unlock Southeast Asia’s renewable energy potential and advance the ASEAN Power Grid, while KLSE Screener emphasizes the progress and cooperation among the participating parties KLSE Screener.

What This Means for Stakeholders

This conditional approval allows the participating consortia to advance the next stages of project development, subject to necessary regulatory and project approvals The Star. Our view is that this development underscores the growing regional commitment to energy security through cross-border renewable infrastructure in Southeast Asia.

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