Site visit to BESS and Kenyir Hydropower Quick Note

Research evidence excerpt

Site visit to BESS and Kenyir Hydropower Quick Note

Global Markets Research

Tenaga Nasional TENA.KL TNB MK 29 June 2026

EQUITY: POWER & UTILITIES

RatingSite visit to BESS and Kenyir Hydropower Remains Buy

Target price MYR 16.80 RemainsQuick Note

Closing priceTenaga (TNB) recently hosted an intensive technical briefing tour for the investment 26 June 2026 MYR 14.34

community, providing an inside look at its front-running energy transition assets in

Terengganu. The visit covered the newly commissioned PMU 132/33kV Santong Battery

Energy Storage System (BESS) in Dungun and the cascading Stesen Janakuasa Kenyir Research Analysts

(SSJK) hydroelectric complex. These projects represent key operational milestones within ASEAN Power & UtilitiesMalaysia’s National Energy Transition Roadmap (NETR), which aims to shift the country

Ahmad Maghfur Usman - NSMfrom a fossil-based system toward a high-value green grid, targeting a 70% renewable ahmad.maghfurusman@nomura.com

energy mix by 2050. +603 2027 6892

PMU 132/33kV Santong BESS Research Associates

The PMU 132/33kV Santong BESS is a pioneering grid-stabilization asset, marking the

ASEAN Power & Utilitiesfirst utility-scale battery deployment connected to the national grid in Peninsular Malaysia

Shashwat Choudhary - NSFSPLto feature advanced grid-forming control topology. Fully commissioned on 16 April 2026,

the facility delivers a total power capacity of 112 MW and a total storage capacity of 450

MWh. In its primary commercial configuration, it is rated at 100 MW output with a 4-hour

continuous discharge window, effectively functioning as a 400 MWh energy repository

capable of providing single-day electricity support for roughly 40,000 regional households.