MALAYSIA: Blueleaf, Universal Peak obtain at least RM 200m for battery project
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Macquarie Asset Management-owned Blueleaf Energy and Universal Peak have secured an at least RM 200m (USD 50m) project finance facility from UOB for its 100 MW/400 MWh battery project in Malaysia, NPM understands.
The facility has a 14-year tenor on a non-recourse basis for the full term, with limited recourse during construction.
Groundbreaking for the roughly RM 300m project is slated for next week, which will be followed by civil works, it is understood.
Major equipment will be moving in around Q1 2027, with Universal Peak as the EPC provider.
The project will be constructed under a build, own, and operate (BOO) model and is on track to be commissioned in mid-2027, according to a press release today.
Dubbed Project Flex, the battery is being implemented under BKHM BESS SDN BHD, a joint venture between Blueleaf Energy and Universal Peak.
The project is one of the four winning projects in the government’s inaugural Malaysia Battery Energy Storage System (MyBeST) program.
The loan was managed internally with no external financial adviser.
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