NCT Alliance explores battery storage partnership with China’s Great Power

KUALA LUMPUR (Jan 30): Property developer NCT Alliance Bhd (KL:NCT) is looking at a potential partnership with Guangzhou Great Power Energy & Technology Co Ltd (Great Power) to explore battery energy storage system (BESS) projects in Malaysia.

The partnership covering BESS for data centre and solar power plants will be discussed further following a memorandum of agreement inked between NCT Alliance’s 99.34%-owned unit, NCT Land Sdn Bhd, and the Chinese energy technology and battery manufacturing firm.

“The collaboration represents an opportunity for NCT Alliance and its subsidiaries to participate in a new business venture, specifically in relation to BESS,” the company said in a bourse filing on Thursday.

The memorandum of agreement is non-exclusive and non-binding.

NCT Alliance is a developer involved in residential projects, smart industrial parks, as well as hotel operations in Genting Highlands.

Meanwhile, the Guangzhou-based Great Power is listed on the Shenzhen Stock Exchange. According to NCT Alliance’s filing with Bursa Malaysia, the Chinese firm has over two decades of experience specialising in advanced battery technologies and energy storage solutions for industrial, commercial and consumer uses.

Shares of NCT Alliance ended half a sen or 0.88% lower at 56.5 sen, valuing the property firm at RM1.2 billion.

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