SELANGOR, 5 OCTOBER 2023 – Leader Energy Holding Berhad (“Leader Energy”), through its wholly-owned subsidiary, Leader Energy Ventures Sdn Bhd, has recently entered into a Memorandum of Understanding (“MOU”) with BASF Stationary Energy Storage GmbH (“BSES”). BSES, a fully-owned subsidiary of the German chemical company BASF SE, acts as the exclusive global distributor for sodium-sulfur batteries (“NAS® Batteries”) manufactured by NGK Insulators, Ltd., Japan. Leader Energy, along with its subsidiary companies and jointly controlled entities, specializes in independent power generation, primarily focusing on 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.”