PETALING JAYA: Ann Joo Resources Bhd
has secured a contract from Universal Peak Sdn Bhd to design, engineer, procure, construct and commission a 100 megawatts / 400 megawatt-hours Battery Energy Storage System project in Bukit Kayu Hitam, Kedah, worth RM37.40mil.
In a filing with Bursa Malaysia, the steel company said the project forms part of Malaysia Battery Energy Storage System programme implemented by the Energy Commission of Malaysia to strengthen Malaysia’s national grid and accelerate the country’s transition to a carbon-neutral renewable energy future.
The contract period, including commencement and completion dates, shall be determined and set out in the contract agreement to be entered into with Universal Peak, said Ann Joo.
Ann Joo said the contract will not have any effect on the issued share capital and the shareholding of the substantial shareholders of the company.
It added that the contract is expected to contribute positively to the future earnings and net assets per share of Ann Joo upon commencement of the project.
