Singapore is all set to import offshore wind power from Vietnam.
The latest decision comes after a joint development agreement held between the companies of two countries.
The agreement was signed between Sembcorp Utilities and Vietnam’s PetroVietnam Technical Services Corporation. It comes as the two sides had inked the memorandum of understanding last year to conduct the feasibility study of the project.
The latest announcement was done after a meeting between Prime Minister Pham Minh Chinh and Semcorp deputy chairman Tow Heng Tan in Singapore.
Under the agreement, the duo will develop offshore wind projects in Vietnam with a total capacity of around #2.3 GW. The generated power will be exported to Singapore through subsea cables.
According to the Vietnamese company, this partnership is the first ever renewable energy cooperation between the two companies.