Malaysian energy company Tenaga Nasional Bhd has inked cross-border partnerships with key companies in Vietnam and Laos to enhance its ongoing drive to strengthen the ASEAN Power Grid (APG) interconnectivity.
The Malaysian firm, shortly known as TNB, said the partnerships aim to enhance its renewable energy portfolio and fast-track the expansion of its wholly owned subsidiary TNB Power Generation (TNB Genco) and its new energy vision in Southeast Asia.
The strategic collaborations were materialized through the signing of three memorandums of understandings (MoUs).
The two MoUs signed in Vietnam were between TNB Renewables (Tre) and Ho Chi Minh City-based Saigon Gia Dinh Electricity JSC (EHCMC); and between TNB Repair and Maintenance and North Power Service JSC (EVNNPS).
The first is to explore potential renewable power generation technologies opportunities in Vietnam, while the second is for collaboration and cooperation for potential energy-related services works in Vietnam, Cambodia, Laos, Myanmar, and Thailand, TNB said in a recent release from Malaysia.
"Through the MoU between TRe and EHCMC, we look forward to leveraging our combined strength and expertise that can unlock the vast renewable energy potential in Vietnam,” said TNB president and CEO Datuk Baharin Din.
"In the second collaboration, TNB is offering valuable services such as operation and maintenance, and maintenance, repair, and overhaul,” he said.
Baharin said the MoU signed in Laos between TNB Genco and Electricite Du Laos (EDL) is to strengthen cooperation by exploring investment opportunities in renewable energy and off-take opportunities through the Laos-Thailand-Malaysia Power Integration Project, also known as LTM-PIP.
"By combining our strengths and expertise, we will unlock the vast renewable energy potential in Vietnam and Laos, driving economic growth and the broader energy transition,” he said.
In Vietnam, TNB executives had met with Minister of Industry and Trade Nguyen Hong Dien, where an expression of interest was submitted for participating in renewable and LNG projects in energy-thirsty Vietnam.
Vietnam has just issued its latest power development plan, PDP VIII, marking a milestone for sustainable energy development and increased international investment in the country.
The plan assumes the responsibility of nurturing the growth and maturity of a comprehensive energy industry ecosystem, with a strong emphasis on renewable and emerging energy sources.
Coal power, which is currently a significant component in Vietnam’s energy mix, is set to decline from approximately 29% to 20.5% by 2030, while the contribution of natural gas will nearly double, PDP VIII outlined. Looking ahead to 2050, coal power sources will be almost completely phased out.
Gas power capacity will reach 40.3 GW by 2035, but its proportion will decline to 7% by 2050, as mixed gas and hydrogen power become more prevalent.