Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Sembcorp Industries, and Sarawak Energy Berhad have been granted Conditional Approval by the Energy Market Authority of Singapore to import an estimated 1GW of renewable energy from Sarawak to Singapore. The project represents Singapore's first large-scale 24/7 power import initiative and is anticipated to commence operations around 2035.

Project Details and Infrastructure

The electricity will be generated predominantly from hydropower sources in Sarawak, which are expected to receive sustainability certification under the Hydropower Sustainability Standard, a global certification scheme outlining sustainability expectations for hydropower projects around the world. The renewable energy will be transmitted to Singapore through subsea cables spanning over 700 kilometers.

SP PowerInterconnect will support the project as a technical partner. The consortium has already signed a preferred supplier agreement with Prysmian, a global leader in high-voltage submarine and underground cable systems, to optimize the design, installation methodology, and protection requirements for the subsea interconnector cable.

Strategic Significance and Regional Impact

The project is capable of delivering renewable baseload energy to Singapore and serves multiple strategic purposes beyond energy import. It strengthens regional cooperation, enhances energy resilience, and serves as a key building block of the ASEAN Power Grid. The initiative represents a significant step toward developing integrated regional energy infrastructure. The consortium will continue to undertake all necessary actions, including entering into any required agreements, to work toward the operationalization of the project.

Ceremonial Recognition and Government Support

The Conditional Approval was commemorated with ceremonies held simultaneously in Singapore and Malaysia on October 17, 2025. The Singapore ceremony was witnessed by Singapore's Deputy Prime Minister and Minister for Trade and Industry, Mr. Gan Kim Yong, and Premier of Sarawak, YAB Datuk Patinggi Tan Sri (Dr.) Abang Haji Abdul Rahman Zohari Bin Tun Datuk Abang Haji Openg.

The Malaysian ceremony took place on the sidelines of the 43rd ASEAN Ministers on Energy Meeting in Kuala Lumpur. It was witnessed by Malaysia's Deputy Prime Minister and Minister for Energy Transition and Water Transformation, YAB Datuk Amar Haji Fadillah bin Haji Yusof, and Singapore's Minister-in-charge of Energy and Science & Technology in the Ministry of Trade and Industry, Dr. Tan See Leng.

Broader Import Strategy and Financial Impact

Wong Kim Yin, Group Chief Executive Officer of Sembcorp Industries, stated that this represents the company's second Conditional Approval for low-carbon electricity import. Combined with an earlier Conditional Approval to bring in 1.2GW of renewable electricity from Vietnam, this brings the total to 2.2GW of planned imports, contributing to Singapore's 6GW target by 2035 and advancing the development of a regional power grid.

The Energy Market Authority's award of Conditional Approval is not expected to materially impact the earnings per share and net tangible asset per share of Sembcorp for the financial year ending December 31, 2025.

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