Singapore to import 1.2GW of low-carbon energy from Vietnam

October 25, 2023 | 09:53

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Singapore’s Energy Market Authority (EMA) on October 24 announced that it has given tentative approval for plans to import 1.2 gigawatts (GW) of primarily wind-generated electricity from Vietnam.

Singapore to import 1.2GW of low-carbon energy from Vietnam (Photo:tuoitre.vn)

Hanoi – Singapore’s Energy Market Authority (EMA) on October 24 announced that it has given tentative approval for plans to import 1.2 gigawatts (GW) of primarily wind-generated electricity from Vietnam.

The latest conditional approval – given to power import projects preliminarily found to be technically and commercially viable – comes after similar authorisations for a 1 GW import plan from Cambodia and 2 GW from Indonesia earlier in the year.

The Vietnam power import venture, involving Singapore’s Sembcorp Utilities (SCU) and Vietnam’s state-owned PetroVietnam Technical Services Corporation (PTSC), includes the laying of subsea power cables spanning around 1,000 kilometres between the two countries.

During an official visit of Vietnamese Prime Minister Pham Minh Chinh to Singapore in February 2023, PTSC and SCU signed an investment cooperation agreement for energy export to Singapore from offshore renewable energy in Vietnam.

Accordingly, PTSC and SCU will cooperate to invest in an offshore wind farm in Vietnam with an initial capacity of about 2.3 GW and export electricity directly to Singapore via a high-voltage underground cable.

Sembcorp said the Vietnam offshore wind farm could start operating by 2033 subject to approvals and barring unforeseen events.

To achieve net zero carbon emissions by 2050, the Singapore Government plans to import 30 per cent of its electricity needs by 2035 from clean energy sources as well as introduce a progressive carbon tax roadmap.

Vietnam makes efforts to develop domestic carbon market

In the context that about 70 countries and territories have applied carbon pricing instruments, experts held that Vietnam should also apply such tools, especially by developing the domestic carbon market, in order to support the realisation of the country’s greenhouse gas (GHG) emissions reduction target.

Vietnam poised to become large-scale carbon credit market

The Emissions Reduction Purchase Agreements (ERPAs) for 11 forests in the south central region and Central Highlands will lay the foundation for Vietnam's large-scale carbon credit market.

By VNA

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