Citaglobal to develop battery cell manufacturing plant and BESS in Malaysia
Citaglobal Bhd is all set to develop a battery cell manufacturing plant and battery energy storage system (BESS).
For this, the company signed a memorandum of understanding with Indonesia Battery Corporation (IBC), the statement reads, adding that it will remain in effect over the next one year.
The agreement includes strategic plans and focus to develop the renewable energy industry.
“Scaling up battery storage is critical for the development of renewable energy whether in Malaysia or Indonesia. The Energy Commission of Malaysia has made known its intention of adopting up to 500MW of battery storage technology,” Citaglobal executive chairman and president as well as major shareholder Tan Sri Mohamad Norza Zakaria, was quoted.
"We are honoured and look forward to a productive and fruitful collaboration with IBC. A cross-country collaboration will allow both parties to leverage each other’s expertise, and quicken the process of increasing low-carbon power sources,” he was further quoted.
Last year, Citaglobal had entered into a collaboration agreement with Genetec Technology Bhd for a strategic cooperation arrangement for the development of BESS.
About IBC, it was founded by four Indonesian state-owned enterprises (PT Aneka Tambang Tbk, Mining Industry of Indonesia, Perusahaan Listrik Negara and PT Pertamina).