Citaglobal executive chairman and president Tan Sri Mohamad Norza Zakaria (front right) exchanging documents with IBC President Director Toto Nugroho (front left) at the MoU signing ceremony. Looking on are Malaysia's Prime Minister Datuk Sri Anwar Ibrahim (centre), and (from left) Minister Foreign Affairs Malaysia Minister Datuk Seri Diraja Zambry Abd Kadir, International Trade and Industry Malaysia Minister Tengku Datuk Seri Utama Zafrul Abdul Aziz, Foreign Affairs of Indonesia Minister Retno Marsudi and Public Works & Public Housing of Indonesia Minister Basuki Hadimuljono
KUALA LUMPUR: Citaglobal Bhd
is exploring a collaboration with the Indonesia Battery Corporation for the proposed development of a battery cells manufacturing plant and battery energy storage system project.
Citaglobal said the memorandum of understanding facilitates its plans to transform into a conglomerate with involvement in renewable energy, facilities, management, telecommunications, infrastructure and technology sectors.
It said the MoU is effective immediately from the date of its execution and shall remain in effect until one year after the execution.
“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 intentions of adopting up to 500 MW of battery storage technology.
"With Malaysia’s strategic location for high solar power potential, our government has been very proactive in choosing areas that are suited for solar power adoption, especially for Battery Energy Storage Systems,” said Citaglobal executive chairman and president and major shareholder Tan Sri Mohamad Norza Zakaria in a statement.
