Sembcorp, PTSC to study power importation from Vietnam to Singapore
The project will span 200,000 hectares of sea area.
Sembcorp Utilities Pte Ltd and Petrovietnam Technical Services Corporation (PTSC) are jointly exploring developing offshore wind farms in Vietnam that can generate electricity to be exported to Singapore.
In a disclosure, Sembcorp said the parties have received a letter of intent from Singapore’s Energy Market Authority and will get conditional approval from the authority.
The project will cover around 200,000 hectares of sea area in two sites off the shore of South Vietnam.
PTSC is the first and only firm to secure a permit from Vietnam’s Ministry of Natural Resources and Environment to conduct wind, marine, and geological surveys.
Sembcorp said these developments are not seen to have any material impact on the company’s earnings per share and net tangible assets for the financial year.