Sembcorp explores importing offshore wind energy from Vietnam
Yong Jun Yuan
SEMBCORP Industries has received a letter of intent from the Energy Market Authority (EMA) to explore the development of offshore wind farms in Vietnam to export electricity to Singapore.
The project will span approximately 200,000 hectares of sea area across two sites off the shores of South Vietnam.
In a bourse filing on Monday (Aug 28), the company said that its wholly-owned subsidiary, Sembcorp Utilities, will work with Vietnam Oil and Gas Group member Petrovietnam Technical Services Corporation (PTSC) to explore the development of such wind farms.
It also noted that PTSC is the first and only company to obtain a permit from Vietnam’s Ministry of Natural Resources and Environment to conduct wind, marine and geological surveys.
Sembcorp said that it will work with PTSC to receive conditional approval by EMA for the project.
The milestones were announced during Prime Minister Lee Hsien Loong’s state visit to Hanoi, Vietnam, to mark the 50th anniversary of Singapore-Vietnam diplomatic relations. It is also the 10th anniversary of strategic partnership between both countries.
Shares of Sembcorp closed up 1.7 per cent or S$0.09 at S$5.48 on Monday, before the announcement was made.
Copyright SPH Media. All rights reserved.
