Leader Energy Inks MOU with BASF to Develop Long Duration Energy Storage Projects
Leader Energy Holding Berhad (“Leader Energy”), via its wholly- owned subsidiary Leader Energy Ventures Sdn Bhd, has today signed a Memorandum of Understanding (“MOU”) with BASF Stationary Energy Storage GmbH (“BSES”). BSES, a wholly-owned subsidiary of German chemical company BASF SE, is an exclusive global distributor of sodium-sulphur batteries (“NAS® Batteries”) produced by NGK Insulators, Ltd., Japan. Leader Energy together with its subsidiaries and jointly controlled entities is an independent power producer principally involved in the development, ownership, operations and maintenance of power assets and projects.
Under the MOU, Leader Energy and BSES intend to establish a strategic partnership to promote the development of long-duration energy storage (“LDES”) projects in Southeast Asia including Malaysia. Leader Energy seeks to deliver comprehensive turnkey solutions for these projects and use NAS® Batteries which will be supplied by BSES. Pursuant to this, Leader Energy has identified 8 LDES projects with a total estimated value of RM1.8 billion.
Leader Energy’s Executive Deputy Chairman, Dato’ Sean H’ng Chun Hsiang said, “As we embark on our continuous pursuit towards net zero emissions, we are proud to announce our strategic partnership with BSES. Our commitment towards sustainability is evident as showcased by the list of projects we intend to be involved in using NAS® Batteries. This collaboration will allow us to leverage on each other’s skillset to penetrate further into the power industry in Southeast Asia while offering more comprehensive solutions which will make renewable energy a more reliable and viable option. In addition, it will alleviate the concerns for night time practicality, when solar irradiance is unavailable. Ultimately, we intend to encourage others to gradually embrace the push towards a more sustainable future.”
- Leader Energy, BSES Partner For SEA Energy Storage Projects – Business Today Online, 5 October 2023 – Read More
- Leader Energy inks MoU with BASF to develop long-duration energy storage projects – The Star Online, 5 October 2023 – Read More
- 立达能源与巴斯夫探讨发展18亿长时储能项目 – Oriental Daily, 5 October 2023 – Read More
- Leader Energy inks MoU with BASF – The Sun Daily Online, 5 October 2023 – Read More
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- Leader Energy in BASF power storage deal – The Star, 6 October 2023 – Read More
- Leader Energy and BASF develop RM 1.8 billion long-duration energy storage project – See Hua Daily News, 6 October 2023 – Read More