Blueleaf Energy and Universal Peak Reach Financing Agreement for Battery Energy Storage System Project in Malaysia

en.Wedoany.com Reported - On September 1, Blueleaf Energy and Universal Peak Sdn Bhd completed the financial close of a 100MW/400MWh battery energy storage project in Kedah, Malaysia, with United Overseas Bank serving as the sole lender. The financing amount and other financial terms were not disclosed. The project will be developed, owned, and operated by BKHM BESS Sdn Bhd, a joint venture established by the two parties, and is scheduled to commence commercial operation by mid-2027.

Located in Bukit Kayu Hitam, Kedah, the project is part of Malaysia's first battery energy storage system initiative, MyBeST. The project adopts a build-own-operate model with a 15-year operating period and will connect to Tenaga Nasional Berhad's Bukit Kayu Hitam 132/33/11kV substation. The project design includes approximately 1.2 kilometers of underground transmission cables and covers an area of approximately 2 hectares.

In May, Universal Peak awarded the project's design, engineering, procurement, construction, and commissioning contract to IAC Infrastructure Sdn Bhd. IAC Infrastructure is an indirect wholly-owned subsidiary of Ann Joo Resources Berhad. The contract value is approximately RM37.4 million, with the scope of work covering the design, engineering, procurement, construction, installation, testing, commissioning, and delivery of the 100MW/400MWh energy storage facility, as well as associated civil, mechanical, electrical, and infrastructure works.

In June, BKHM BESS Sdn Bhd signed a battery energy storage services agreement and a grid connection agreement with Tenaga Nasional Berhad. The storage services agreement defines commercial arrangements including project capacity, system availability, dispatch, and performance obligations; the grid connection agreement covers protection systems, metering, supervisory control and data acquisition (SCADA) system integration, and operational coordination with the transmission network.

The project utilizes lithium iron phosphate battery technology, configured with 88 sets of 20-foot containerized energy storage units, 14 sets of power conversion systems and medium-voltage skid-mounted equipment, employing a liquid-cooled thermal management system, and aggregating power through a 33kV system. The energy storage system is also equipped with a battery management system as well as an energy management and monitoring platform.