AmBank approves RM408.2mil financing for battery storage project in Sabah
The project, awarded by Sabah Electricity Sdn Bhd is valued at RM644.6 million.
Upon completion, the facility will be one of the largest battery storage systems in Southeast Asia and the first energy storage facility in Sabah, with a final installed capacity of 517 megawatts per hour.
It is designed to enhance grid stability, boost reserve margins during peak demand periods, and enable further expansion of power plants in the region.
Beside the ongoing project in Sabah, MSR Green Energy is currently overseeing two large-scale solar projects under the Corporate Green Power Program scheme with a total of approximately 95 megawatt-peak, scheduled for completion by the end of 2025.
"This financing facility with MSR marks a significant step in supporting Malaysia's transition towards a more resilient and sustainable energy future. By backing its advanced energy storage infrastructure, we hope to be able to continue our support to demonstrate our commitment to sustainable financing and renewable energy development," said AmBank Group business banking managing director Christopher Yap.
MSR Green Energy director Ong Kah Hui said the initiative not only addresses Sabah's power supply and grid stability requirements but also lays a robust foundation for integrating future renewable energy plants into the region's infrastructure.
"We are deeply honoured to participate in this project through an open-tender exercise by Sabah.
Electricity Sdn Bhd. With the invaluable financing support of AmBank, our large-scale battery energy storage project represents a pivotal step toward realising a shared vision of a greener future," said Ong.
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