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Blueleaf Energy and Universal Peak Secure Financing for 400 MWh BESS Project in Malaysia

Blueleaf Energy and Universal Peak have secured financial close with UOB to construct and operate Malaysia's flagship 100 MW/400 MWh utility-scale Battery Energy Storage System (BESS) under the MyBeST program, targeted for commissioning in mid-2027.

September 07, 2026. By Mrinmoy Dey

Blueleaf Energy and Universal Peak have announced that they have successfully secured financial close with UOB for their utility-scale 100 MW/400 MWh Battery Energy Storage System (BESS) in Malaysia.

The project will now commence construction under a Build, Own, and Operate (BOO) model and is on track to be commissioned in mid-2027, the companies stated.

Commenting on the development, Raghuram Natarajan, CEO of Blueleaf Energy, said, “Financial close of this project under the inaugural MyBeST program marks a significant milestone for Blueleaf Energy and our partners, and demonstrates our ability to originate, finance and execute complex renewable energy infrastructure across Asia in a timely manner. This project, together with our additional development pipeline in Malaysia, reinforces Blueleaf Energy’s commitment to Malaysia’s energy transition, strengthening grid resilience and enabling greater integration of renewable energy.”

Datuk Ir. Raj Kumar R Gopal Pillai, CEO, Universal Peak, said, “This financial milestone brings us one step closer to putting world-class energy storage on the ground in Malaysia. Universal Peak is thrilled to partner with Blueleaf Energy and UOB to fortify grid reliability and accelerate the country’s carbon-neutral future.”

Frederick Chin, Head of Group Wholesale Banking and Markets, UOB, said, “As ASEAN advances its energy transition, investments in enabling infrastructure such as battery energy storage systems will play an increasingly important role in strengthening grid resilience and supporting the integration of renewable energy. This landmark project marks an important milestone in advancing Malaysia’s energy transition and underscores the growing role of energy storage in enabling a more sustainable and resilient energy future.”

As a cornerstone of Malaysia’s inaugural Battery Energy Storage System (MyBeST) program, overseen by the Energy Commission (Suruhanjaya Tenaga), this 100 MW/400 MWh facility represents a significant step toward the nation’s goal of net-zero emissions by 2050 under the National Energy Transition Roadmap (NETR), the companies stated.

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Datuk Ir. Raj Kumar R Gopal Pillai

Frederick Chin

MyBeST program of Malaysia

BESS projects in Malaysia