OCBC Bank (Malaysia) Berhad said Thursday it has committed MYR 325 million ($79.48 million) in financing to support a utility-scale 100MW/400MWh Battery Energy Storage System (BESS) project under the Malaysian government’s Battery Energy Storage (MyBeST) Program.
The project is undertaken by ESS Bahau Sdn Bhd (ESS Bahau), a wholly owned subsidiary of ERS Energy Sdn Bhd (ERS Energy), one of four successful bidders selected by the Energy Commission under MyBeST, Malaysia’s first competitive bidding program for grid-scale battery storage.
OCBC Bank is the mandated lead arranger and facility agent for the project, which is scheduled to achieve commercial operation in July 2027.
OCBC Bank’s MYR 325 million financing commitment spans the broader project ecosystem, comprising project financing for the BESS facility as well as working capital facilities supporting engineering, procurement, construction and commissioning (EPCC) activities.
With OCBC Bank’s support, ESS Bahau is set to mark a significant step forward for both the project and Malaysia’s emerging battery energy storage sector, said the statement.
“We are pleased to support ERS Energy in delivering one of Malaysia’s first utility-scale battery storage projects, marking an important milestone in the country’s energy transition journey,
“This reflects OCBC’s commitment to providing strategic financing solutions that advance critical energy infrastructure and help accelerate Malaysia’s transition to a lower-carbon economy,” said Jeffery Teoh Nee Teik, Head of Wholesale Banking, OCBC Bank.
Jonathan Kan, Managing Director of ERS Energy Sdn Bhd, said achieving financial close on the ESS Bahau project, and being one of the first MyBeST awardees to reach this stage, is a major strategic milestone for ERS Energy.
He said this achievement underscores the firm’s bankability and the strength of its integrated EPCC model, which de-risks execution from design through to commissioning,
“Partnering with an institution like OCBC highlights the technical and financial rigour behind our project structuring,
“Together, we are helping lay the foundation for utility-scale energy storage that will strengthen grid reliability and accelerate the country’s energy transition, setting a clear benchmark for future energy storage developments,” he added.
It is noted that battery energy storage systems are a key enabler of Malaysia’s clean energy transition, supporting greater renewable energy integration and enhancing grid reliability.
The BESS projects support the objectives of the National Energy Transition Roadmap (NETR), which targets 70 percent renewable energy capacity by 2050.
As at December 31, 2025, OCBC Bank has extended more than MYR 12 billion in green, social and sustainability-linked loans, underscoring its commitment to supporting sustainable development and the low-carbon transition.
With the Energy Commission mandating battery storage capacity for initiatives such as the Large Scale Solar 6 and Corporate Renewable Energy Supply Scheme programs, OCBC Bank said the bank is well-positioned to support developers as demand for energy storage solutions continues to grow.