Kim Heng inks deal with Singapore Energy Interconnections on submarine power projects

[SINGAPORE] Offshore marine services contractor Kim Heng has inked an agreement with a newly incorporated government-linked energy company to cooperate in submarine power projects, the Catalist-listed company said in a bourse filing said on Monday (Jun 9).

Kim Heng signed the non-binding memorandum of understanding (MOU) with Singapore Energy Interconnections (SGEI), which was set up in April and has been appointed by the government to oversee the development of cross-border interconnections to enable electricity imports.

The partnership covers the purposes of operating, repairing and maintaining submarine power cable systems within the Asean region, Kim Heng said.

The MOU remains in force until Jun 1, 2028, or on the execution of definitive agreements or mutual agreements to terminate it, the company added.

On May 30, SGEI entered a deal with Singa Renewables to jointly develop a sub-sea interconnector to enable low-carbon electricity imports from Indonesia to Singapore.

Singa Renewables is a joint venture between French energy company TotalEnergies and Singapore-headquartered resource-based manufacturing group RGE.

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SGEI noted then that the project supports Singapore’s target of importing up to 6 gigawatts of low-carbon electricity by 2035, and paves the way to realising the Asean Power Grid.