KUALA LUMPUR: Seal Incorporated Bhd's 30 per cent-owned associate, MSR Green Energy Sdn Bhd, has secured RM408.2 million in financing to part-fund a large-scale battery energy storage system project in Sabah.

In a filing with Bursa Malaysia today, the group said the financing was provided by AmBank Group.

This follows MSR Green Energy's award of the project in Lahad Datu, valued at RM644.6 million, by Sabah Electricity Sdn Bhd in September last year.

The project is expected to become one of Southeast Asia's largest battery storage systems and the first of its kind in Sabah, with a final installed capacity of 517 megawatt-hours.

It aims to improve grid stability, increase reserve margins during peak demand, and support future expansion of renewable energy infrastructure in the region.

"With the invaluable financing support of AmBank, our large-scale battery energy storage project represents a pivotal step toward realising a shared vision of a greener future," MSR Green Energy director Ong Kah Hui said in a statement.

MSR Green Energy, established in 2012, is a renewable energy player with a track record of 39 commissioned solar photovoltaic projects.

The company is also developing two large-scale solar projects under the Corporate Green Power programme, totalling 95 megawatt-peak, which are slated for completion by end-2025.