SINGAPORE, September 1, 2026: Blueleaf Energy and Universal Peak Sdn Bhd have reached financial close with United Overseas Bank (UOB) for a landmark 100 MW/400 MWh battery energy storage system (BESS) project in Malaysia.
The project, being developed under Malaysia’s inaugural MyBeST (Battery Energy Storage System) program overseen by the Energy Commission, will now move into construction under a Build, Own and Operate (BOO) model. The facility is scheduled to be commissioned in mid-2027.
The project is expected to play an important role in strengthening Malaysia’s power grid by improving reliability and flexibility while enabling greater integration of renewable energy into the electricity system. It also supports the country’s target of achieving net-zero emissions by 2050 under the National Energy Transition Roadmap (NETR).
The financing milestone comes shortly after the launch of Malaysia’s Large Scale Solar 6 (LSS6) tender in July, reflecting the country’s growing focus on expanding renewable energy and developing the infrastructure required to support a more resilient and flexible power grid.
Raghuram Natarajan, CEO of Blueleaf Energy, said the financial close under the inaugural MyBeST program was a significant milestone for the company and its partners. He said the project demonstrated Blueleaf’s ability to develop, finance and deliver complex renewable energy infrastructure across Asia.
“This project, together with our additional development pipeline in Malaysia, reinforces Blueleaf Energy’s commitment to Malaysia’s energy transition, strengthening grid resilience and enabling greater integration of renewable energy,” he said.
Datuk Ir. Raj Kumar R Gopal Pillai, CEO of Universal Peak, said the financial milestone brings the project closer to deploying advanced energy storage infrastructure in Malaysia.
“Universal Peak is thrilled to partner with Blueleaf Energy and UOB to fortify grid reliability and accelerate the country’s carbon-neutral future,” he said.
Frederick Chin, Head of Group Wholesale Banking and Markets at UOB, said investments in enabling infrastructure such as BESS would become increasingly important as ASEAN countries accelerate their energy transitions.
He said battery storage would help strengthen grid resilience and support the integration of renewable energy, adding that the project demonstrates how strategic partnerships can mobilize capital for sustainable infrastructure at scale.
The financial close was marked by a signing ceremony at Blueleaf Energy’s offices in Singapore, attended by senior representatives from Blueleaf Energy, Universal Peak and UOB.
Blueleaf Energy and Universal Peak are developing the project through their joint venture, BKHM BESS Sdn Bhd, and said they remain committed to delivering the facility safely and efficiently while supporting Malaysia’s long-term clean energy ambitions.
