Vietnam–Malaysia–Singapore Power Project Reaches Key Milestone

Singapore has granted Conditional Approval (CA) to the Vietnam–Malaysia–Singapore (VMS) renewable energy export project, which proposes developing approximately 2 GW of offshore wind capacity in southern Vietnamese waters. The approval marks a significant step forward in trilateral energy cooperation.

On October 26, 2026, a Vietnamese delegation led by Cao Anh Tuan, Deputy Minister of Finance, attended Singapore International Energy Week (SIEW) 2026 in Singapore. During the event, the Energy Market Authority of Singapore (EMA) granted Conditional Approval to the VMS project, which involves the Vietnam National Industry – Energy Group (PETROVIETNAM) through its subsidiary, PetroVietnam Technical Services Corporation (PTSC).

The approval ceremony was witnessed by senior government officials from Vietnam, Malaysia, and Singapore, highlighting the three countries’ commitment to advancing cross-border renewable energy cooperation.

Vietnam Strengthens Regional Energy Cooperation at SIEW 2026

Held at Marina Bay Sands Convention Centre, SIEW 2026 brought together government representatives, regulators, energy organizations, and industry leaders to discuss energy security, the energy transition, and regional power connectivity.

The Vietnamese delegation included Phan Tu Giang, Deputy General Director of PETROVIETNAM, and Tran Ho Bac, General Director of PTSC, alongside representatives from relevant organizations.

During the event, Deputy Minister Cao Anh Tuan and representatives of PETROVIETNAM and PTSC met with Gan Siow Huang, Singapore’s Minister of State for Foreign Affairs and the Ministry of Trade and Industry, to discuss bilateral energy cooperation, with a particular focus on advancing the VMS project.

Deputy Minister Cao Anh Tuan expressed his appreciation for Singapore’s support and welcomed EMA’s decision to grant Conditional Approval. He reaffirmed the Vietnamese Government’s strong interest in and support for the project.

He noted that Vietnam had issued two survey permits to PTSC to support the assessment and development of offshore wind resources. As the state representative exercising ownership rights over PETROVIETNAM, the Ministry of Finance also supports the electricity export project, which aligns with Vietnam’s energy development strategy and the broader goal of strengthening regional economic cooperation.

Deputy Minister Cao Anh Tuan called on Singapore to maintain its support and work closely with the relevant stakeholders to advance the project according to schedule.

The VMS project is expected to become a flagship example of ASEAN energy cooperation, helping lay the groundwork for the ASEAN Power Grid (APG), strengthen regional electricity infrastructure, and enhance energy security.

Vietnam’s participation in SIEW 2026 comes amid growing ASEAN interest in cross-border energy cooperation, driven by the need to diversify electricity supplies, expand renewable energy capacity, and achieve emissions reduction targets.

For Vietnam, clean electricity export initiatives also present opportunities to harness its offshore wind potential, develop its energy industry, attract investment, and deepen economic ties with regional partners.

VMS Project Receives Conditional Approval from Singapore

One of the key highlights of the opening session of SIEW 2026 was the Conditional Approval ceremony for the VMS project, held on the morning of October 26 at Marina Bay Sands.

The ceremony was witnessed by Cao Anh Tuan, Vietnam’s Deputy Minister of Finance; Dr. Tan See Leng, Singapore’s Minister-in-Charge of Energy and Science & Technology under the Ministry of Trade and Industry; and Datuk Amar Haji Fadillah bin Haji Yusof, Malaysia’s Deputy Prime Minister and Minister of Energy Transition and Water Transformation.

The approval represents an important early regulatory milestone for the trilateral initiative. It provides a basis for the project consortium to continue refining its technical studies, commercial arrangements, and the necessary approval procedures in Vietnam, Malaysia, and Singapore.

The milestone also recognizes the coordinated efforts of participating companies and regulatory authorities to develop a major cross-border energy project in Southeast Asia.

Under the current development plan, the VMS project proposes approximately 2 GW of offshore wind capacity in southern Vietnamese waters. Electricity would be transmitted through an approximately 800-kilometer subsea high-voltage cable to Malaysia.

In Malaysia, part of the electricity would serve domestic demand, while the remaining supply would be combined with solar power for export to Singapore. The project aims to deliver approximately 1.3 GW of renewable electricity to Singapore, with operations expected to begin in 2035 under a proposed supply period of around 30 years.

Leveraging PETROVIETNAM and PTSC’s Capabilities in the Energy Transition

The VMS project builds on the partnership between PTSC and Sembcorp, established in 2023.

As part of the project’s development, PTSC completed a 12-month offshore wind and marine data collection campaign in waters off the former Ba Ria–Vung Tau area. The company is also preparing measurement equipment and specialized vessels for further surveys at a potential new offshore site in Lam Dong Province.

With more than 30 years of experience in oil and gas technical services and the energy industry, PTSC has developed expertise in delivering large-scale offshore projects involving complex technical requirements. These capabilities provide a strong foundation for the company to expand into renewable energy, particularly offshore wind.

Participation in the VMS project also supports PETROVIETNAM’s broader industrial and energy development strategy, including Vietnam’s orientation toward offshore wind power exports under the revised Power Development Plan VIII.

The project is expected to create opportunities to attract international investment, increase the localization of equipment and technical services, generate employment, and develop a highly skilled workforce for the energy sector.

Deputy Minister Cao Anh Tuan’s leadership of the Vietnamese delegation, participation in the Conditional Approval ceremony, and discussions with Singaporean officials underscore the Vietnamese Government’s support for the initiative.

With Conditional Approval secured at SIEW 2026, the VMS project has gained fresh momentum. Backed by government support and the participation of leading energy companies from all three countries, the initiative is expected to contribute to the development of the ASEAN Power Grid, strengthen regional energy security, and accelerate the transition toward a more sustainable energy future in Southeast Asia.