KUALA LUMPUR (Dec 29): Citaglobal Bhd updated that it is still in “active discussion” towards a joint collaboration agreement with Petronas Global Technical Solutions Sdn Bhd (PGTSSB), a wholly-owned subsidiary of Petroliam Nasional Bhd, for deployment of a Battery Energy Storage System, six months after both signed the Memorandum of Understanding on June 27.
In a filing with Bursa Malaysia, Citaglobal said the “discussion” is especially in the area of deployment of its Generation Two Battery Energy Storage System (Gen2 MYBESS) at various Petronas’ upstream, midstream and downstream businesses such as production platforms, processing plants, and retail stations and outlets.
“At utility scale level, Citaglobal and PGTSSB are currently working on grid forming pilot, showcasing MYBESS on microgrid environments in Terengganu,” the filing read.
This came after Citaglobal’s previous update in September, when it said “parties are in active discussion in relation to proposed collaboration in the areas of renewable energy technologies and applications of commercialisation of Gen2 MYBESS for deploying into PGTSSB’s depleted/marginal Malaysia fields”.
The two-year MOU was entered in June for “strategic collaboration in a wide range of renewable energy technologies and applications”.
Shares of Citaglobal gained two sen to settle at RM1.49 on Friday, giving it a market capitalisation of RM622.52 million.