Brookfield, a global investment firm from Canada, has signed an agreement with Malaysian clean energy company Solarvest Holdings Bhd to jointly develop, build, and operate at least 1.5 GW of large-scale solar and battery energy storage projects in Malaysia over the next three to five years.
Solarvest said it will contribute its local expertise and experience, having already developed over 2.3 GW of solar projects in Malaysia, both completed and ongoing.
Brookfield will provide large-scale funding, strong global and regional business connections, and proven operational expertise.
Brookfield owns and runs one of the world’s largest and most diverse renewable energy portfolios, with more than 270 GW of operational and development capacity.
The Solarvest partnership is Brookfield’s first investment in Malaysia through its Catalytic Transition Fund, which focuses on supporting decarbonization projects in emerging markets worldwide.
Malaysia was chosen because it is a leading renewable energy market in Southeast Asia, with strong demand and supportive government policies.
“Malaysia is emerging as a regional leader in clean energy, underpinned by ambitious national targets and surging demand from both utilities and corporates given the country’s growing role as a hub for data centers and semiconductor manufacturing,” Brookfield’s Head of Renewable Power & Transition for Asia Pacific Daniel Cheng said.
“Brookfield is committed to deploying significant capital into Malaysia where these strong market fundamentals align with our capabilities to deliver power and decarbonization solutions to large corporates, hyperscalers and other key customers globally,
“We look forward to working with Solarvest to help advance Malaysia’s decarbonization agenda and meet the national and regional need for green energy,” he added.
Solarvest’s Executive Director and CEO, Davis Chong, said they are excited to start this partnership with Brookfield, calling it an important step for Solarvest in accelerating the shift toward a low-carbon future.
“By combining our proven expertise and innovation with our partner’s strong global network and financial strength, we are uniquely positioned to deliver impactful renewable energy solutions that will drive Malaysia’s decarbonization agenda in line with the National Energy Transition Roadmap (NETR),
“Beyond Malaysia, this collaboration also enables us to expand our regional footprint, meeting the growing demand for sustainable power. Together, we aim to create lasting value by advancing clean energy adoption, strengthening energy security, and supporting the region’s journey towards carbon neutrality,” he added.
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