Singapore’s state-owned energy giant Sembcorp Industries and Malaysia’s state-owned electric utility company Sarawak Energy have entered into a preferred supplier agreement with Italian cabling firm Prysmian for a subsea interconnector cable that would import around 1 GW of green electricity from Sarawak to Singapore.
The agreement was signed between Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries, and Sarawak Energy Services, a wholly-owned subsidiary of Sarawak Energy Berhad, Malaysia’s largest renewable energy developer.
As part of the deal, the parties, in collaboration with technical partner SP PowerInterconnect, will partner exclusively with Prysmian to optimize the design, installation methodology, and protection requirements for a subsea interconnector cable that could potentially import an estimated 1 GW of green electricity from Sarawak to Singapore.
The development of the project is subject to various regulatory approvals.
Sembcorp announced that the signing of the agreement was not expected to have any material impact on its earnings per share and net tangible assets per share for the financial year ending December 31, 2025.
In terms of recent news coming from Prysmian, the Italian cabling giant in February kicked off the offshore installation activities for an interconnector that will link Sicily to Sardinia and to the Italian peninsula.
The news came shortly after the company’s new cable laying vessel (CLV) Monna Lisa joined its fleet , after having completed sea trials.