The growth of solar and other intermittent renewables is driving demand for battery storage systems. (Photo: iStock)
Malaysia is rapidly expanding solar and other intermittent renewable generation, creating strong momentum for energy storage. The country’s first four large-scale grid-connected storage projects have attracted significant interest, with more than 20 companies submitting over 30 proposals. Bidders include established energy players as well as newcomers from the infrastructure and property development sectors.
Malaysia launches MyBeST with four storage projects
In 2024, Malaysia launched its first large-scale storage initiative, known as MyBeST, to build four grid-connected battery systems of 100MW/400MWh each. The bidding round opened in May and closed in July, with winning projects expected to come online by 2027.
According to The Edge Malaysia, major energy companies—including Tenaga Nasional Berhad (TNB), YTL Power, and Malakoff Corp—have submitted multiple bids. TNB is widely seen as a frontrunner.
Other contenders include Gamuda, which entered renewables in 2022; Mega First Corp, developing its first large solar project; Petronas subsidiaries Petronas Gas and Gentari; as well as storage company BM Greentech, EPC contractors Pekat Group and Solarvest Holdings, and Samaiden Group.
The first large-scale grid-connected energy storage project in Malaysia has attracted bids from over 20 companies, including Tenaga Nasional Berhad. (Image: TNB)
Financial models and technical partners seen as decisive
Each 100MW/400MWh project is estimated to cost between RM270 million and RM300 million (about USD 63.8–70.9 million), depending on the battery system and construction costs, according to the source.
The tender documents specify two charging models: a capacity-based fee, charged regardless of usage, and a service-based fee tied to storage and discharge cycles.
The results are scheduled to be announced in October. Industry observers told The Star that as Malaysia pushes forward with its Large-Scale Solar 5 (LSS5) program, flexible grid operations supported by storage are becoming critical. Success in the tender is expected to hinge on the strength of financial structures and technology partners.
Source: The Edge Malaysia, The Star
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