Prysmian, Sembcorp and SACE ink energy transition deal for Southeast Asia

Italian cabling company Prysmian Group has signed a Memorandum of Understanding (MoU) with Singapore’s state-owned energy giant Sembcorp Industries and Italy’s export credit agency and insurance and finance group SACE, controlled directly by the Ministry of the Economy and Finance, to explore opportunities for collaboration on potential energy transition projects in Southeast Asia.

Although no additional details have been revealed regarding the collaboration, Prysmian did state it had a long-standing presence and track record in the region and considers it a key market.

“This partnership aims to create mutual benefits through complementary expertise and collaborative efforts, identifying opportunities of shared interest and enhancing communication across key energy sectors. Together, we are committed to developing sustainable energy solutions that meet both international and local standards, building a more connected and resilient energy future,” Prysmian said.

Earlier this year, Sembcorp Industries and Malaysia’s state-owned electric utility company Sarawak Energy entered into a preferred supplier agreement with Prysmian for a subsea interconnector cable that would import around 1 GW of green electricity from Sarawak to Singapore.

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