Latest news with #MSRGreenEnergySdnBhd
Malay Mail
02-05-2025
- Business
- Malay Mail
Ambank approves RM408.2m financing for MSR Green Energy's BESS project in Sabah
KUALA LUMPUR, May 2 — AmBank Group has approved a financing facility totalling RM408.2 million to MSR Green Energy Sdn Bhd (MSRGE) to partially fund its working capital requirements for a landmark 100-megawatt (MW)/400 megawatt-hour (MWh) battery energy storage system (BESS) project. In a joint statement today, both parties said the BESS project, valued at RM644.6 million, was awarded by Sabah Electricity Sdn Bhd (SESB) in September 2024 and is located in Lahad Datu, Sabah. '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 MWh. 'It is designed to enhance grid stability, increase reserve margins during peak demand periods, and enable the further expansion of power plants in the region,' they said. AmBank Group managing director of business banking Christopher Yap said the financing marks a significant step in supporting Malaysia's transition towards a more resilient and sustainable energy landscape. 'By supporting this advanced energy storage infrastructure, we reaffirm our commitment to sustainable financing and the development of renewable energy,' he added. Meanwhile, MSRGE director Ong Kah Hui said that with AmBank's invaluable financing support, the large-scale battery energy storage project represents a pivotal step towards realising a shared vision of a greener future. 'This initiative not only addresses Sabah's power supply and grid stability needs, but also lays a robust foundation for the integration of future renewable energy plants into the region's infrastructure,' he said. — Bernama
New Straits Times
02-05-2025
- Business
- New Straits Times
Seal associate secures RM408mil for Sabah battery storage project
KUALA LUMPUR: Seal Incorporated Bhd's 30 per cent-owned associate, MSR Green Energy Sdn Bhd, has secured RM408.2 million in financing to part-fund a large-scale battery energy storage system project in Sabah. In a filing with Bursa Malaysia today, the group said the financing was provided by AmBank Group. This follows MSR Green Energy's award of the project in Lahad Datu, valued at RM644.6 million, by Sabah Electricity Sdn Bhd in September last year. The project is expected to become one of Southeast Asia's largest battery storage systems and the first of its kind in Sabah, with a final installed capacity of 517 megawatt-hours. It aims to improve grid stability, increase reserve margins during peak demand, and support future expansion of renewable energy infrastructure in the region. "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," MSR Green Energy director Ong Kah Hui said in a statement. MSR Green Energy, established in 2012, is a renewable energy player with a track record of 39 commissioned solar photovoltaic projects. The company is also developing two large-scale solar projects under the Corporate Green Power programme, totalling 95 megawatt-peak, which are slated for completion by end-2025.
The Star
30-04-2025
- Business
- The Star
AmBank funds RM408.2mil for Sabah's first large BESS project
From left: AmBank Group head of commercial banking 1, business banking Yeow Swee Yun, AmBank Group managing director of business banking Christopher Yap, AmBank Group SVP commercial banking 1, business banking Amanda Lau Meei Jiun, MSRGE director Qiang Xiaoyu and MSRGE director Ong Kah Hui. PETALING JAYA: AmBank Group has approved a total financing facility of RM408.2mil to MSR Green Energy Sdn Bhd (MSRGE) to part-finance its working capital requirements for a landmark 100MW/400MWh Battery Energy Storage System (BESS) project awarded by Sabah Electricity Sdn Bhd (SESB). In a joint statement, the parties said the BESS project, located in Lahad Datu, Sabah, is valued at RM644.6mil and was awarded to MSRGE in September 2024. 'Upon completion, the facility will be one of the largest battery storage systems in South-East Asia and the first energy storage facility in Sabah, with a final installed capacity of 517MWh. 'It is designed to enhance grid stability, boost reserve margins during peak demand periods, and enable further expansion of power plants in the region.' Established in 2012, MSR Green Energy Sdn Bhd is a pioneer in Malaysia's renewable energy sector with a strong track record in large-scale solar photovoltaic projects.
New Straits Times
30-04-2025
- Business
- New Straits Times
AmBank approves RM408.2mil financing for battery storage project in Sabah
KUALA LUMPUR: AmBank Group has approved a financing facility totalling RM408.2 million to MSR Green Energy Sdn Bhd to part-finance its working capital requirements for a battery energy storage system 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.
