Leader Energy Holding Berhad (“Leader Energy”), through its wholly-owned subsidiary, Leader Energy Ventures Sdn Bhd, has formalized a Memorandum of Understanding (“MOU”) with BASF Stationary Energy Storage GmbH (“BSES”). BSES, a fully-owned subsidiary of the German chemical company BASF SE, holds an exclusive global distribution rights for sodium-sulphur batteries (“NAS® Batteries”) manufactured by NGK Insulators, Ltd. in Japan. Leader Energy, alongside its subsidiaries and jointly controlled entities, operates as an independent power producer primarily engaged 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 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.”