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Tuesday, July 16, 2024

First multilateral electricity trade project in ASEAN gets nod

The Saigon Times

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HCMC – The governments of Laos, Thailand, Malaysia and Singapore have approved a power trade project between Laos and Singapore, part of the power integration project of the four countries mentioned above (LTMS-PIP).

The first multilateral power trade project in these countries has opened up prospects for a common power transmission network in 10 ASEAN countries, marking a milestone in the power trade market between ASEAN countries in the future.

The project aims to build a power security system for the entire area by accessing a common power transmission network, in which countries with abundant power can easily sell power to those in need.

In late June, Singapore imported 100MW of electricity from Laos within the framework of the LTMS-PIP, which is equal to 1.5% of the peak power demand of Singapore.

During the past time, Laos has executed a series of hydropower plants nationwide to boost power exports to regional countries, including Vietnam and Cambodia.

Currently, Laos has signed power trade agreements with Vietnam Electricity on 25 projects with a total installed capacity of 2,180MW. Of these, three projects have commenced their power exports to Vietnam with a total installed capacity of 572MW.

The other 22 projects, which are expected to be completed in 2022-2025, will have power exported to Vietnam with a total installed capacity of 1,608 MW. By 2030, Vietnam will possibly import 8,148.5 MW of electricity from Laos.

Apart from Vietnam, Laos will export electricity to Cambodia with a total installed capacity of 445 MW. In 2030, over 6,000 MW of electricity from Laos will be exported to Cambodia as per the agreements between these two countries.

To boost the development of power trade between countries, especially the construction of an ASEAN power network, member countries need to build a common set of standards for the regional power transmission network. This will not only facilitate transboundary power connectivity but also help reduce costs in the execution of similar projects in the future.

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