Singapore and Vietnam have intensified their bilateral cooperation in renewable energy, fast-tracking the transition to this clean energy mode. The joint report on Offshore Wind Power Trade Cooperation between Vietnam and Singapore was authorized on 12 March 2025 by Singapore Second Minister for Trade and Industry Dr. Tan See Leng and Vietnam Deputy Minister of Industry and Trade Nguyen Hoang Long.
The report provides a pathway for regulatory approvals and licenses from both governments for renewable energy development and cross-border electricity trading. These enable deeper bilateral cooperation in infrastructure, research and technology, and capacity-building.
Apart from Singapore and Vietnam, this report further clarifies the commitment of both nations in closely working with other ASEAN member states to expedite the 2045 completion of the ASEAN power grid with subsequently developed frameworks based on subsea power cables and terms of references.
Prior to this, in October 2023, Sembcorp Utilities was given by Singaporean Energy Market Authority Conditional Approval to import low-carbon electricity from Vietnam of 1.2 gigawatts. Electricity imported will utilize the offshore wind and other sources that may be developed with Petrovietnam Technical Services Corporation. This will be the first offshore wind power trading project in ASEA, if executed.