Singapore and Malaysia have renewed an energy cooperation agreement to strengthen technical collaboration on solar power, energy storage systems, renewable energy certificates and cross-border electricity trading, supporting regional power grid integration and the transition to cleaner energy, the duo said on Monday.
The Energy Market Authority (EMA) of Singapore and Energy Commission of Malaysia (Suruhanjaya Tenaga – ST) signed a renewal of their memorandum of understanding (MOU) on the sidelines of the 19th Singapore International Energy Week (SIEW), to further strengthen bilateral cooperation in the energy sector.
EMA and ST first signed the MOU in October 2020. Since then, both regulators have strengthened their longstanding partnership through regular bilateral dialogues and technical exchanges.
The renewal of the MOU is especially meaningful as both regulators celebrate their 25th anniversaries this year, marking an important milestone in our continued commitment to deepen regulatory cooperation between Singapore and Malaysia.
The renewed MOU provides a framework for both regulators to strengthen technical cooperation, regulatory exchanges and knowledge sharing.
The areas of cooperation include the planning and reliability of electricity and piped gas systems, regulation of
wholesale and retail electricity markets, implementation of cross-border electricity trading projects, Renewable Energy Certificates (RECs), and interconnection capacity.
The MOU will also strengthen collaboration on solar and energy storage systems.
“This MOU marks another step forward in the longstanding cooperation between EMA and the Energy Commission of Malaysia,
“We look forward to working more closely on cross-border electricity trade, regional interconnectivity and RECs. This can facilitate greater renewable electricity trade, support investments in renewable energy projects, and advance a more interconnected regional power system,” said Puah Kok Keong, Chief Executive of EMA.
Siti Safinah Salleh, Chief Executive Officer of ST, said the renewal of this MoU reflects the strong and constructive partnership between ST and EMA in advancing regional energy cooperation.
“As our energy systems become increasingly complex, close collaboration between regulators is essential to support a secure and reliable electricity supply, facilitate cross-border electricity trade and enable a sustainable energy transition. ST looks forward to deepening our cooperation with EMA through technical exchanges, knowledge sharing and regulatory collaboration for the mutual benefit of both countries and the region,” she added.
Vietnam-Malaysia-Singapore 1.3-GW power initiative wins conditional approval from Singapore