SG, Vietnam eye cross-border electricity trade cooperation

Both countries will explore increasing the targeted capacity of low-carbon electricity imports.

Singapore’s Second Minister for Trade and Industry, Tan See Leng, and Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, signed a Letter of Intent (LOI) to enhance cross-border electricity trade.

Under the LOI, both countries reaffirmed their desire to establish a sustainable, inclusive, and resilient ASEAN Power Grid comprising multiple energy interconnections.

Both countries will explore increasing the targeted capacity of low-carbon electricity imports from Vietnam to Singapore to around 2 gigawatts by 2035 and engage interested companies with credible and commercially viable proposals.

The LOI builds on the joint report on offshore wind power trade cooperation between the two countries, endorsed on 12 March.