Canadian investment firm Brookfield has entered into a joint investment framework agreement with Malaysia’s Solarvest Holdings Bhd to develop, build, and operate at least 1.5 gigawatts (GW) of utility-scale solar and battery energy storage projects in Malaysia, marking Brookfield’s inaugural investment in the country. The partnership leverages Malaysia’s ambitious clean energy targets and its growing role as a hub for data centers and semiconductor manufacturing, making it an attractive destination for renewable energy investments. Brookfield’s Head of Renewable Power & Transition for Asia Pacific, Daniel Cheng, emphasized the alignment of Malaysia’s strong market fundamentals with Brookfield’s expertise in delivering power and decarbonization solutions to global corporations and hyperscalers, committing significant capital to support these initiatives.
Solarvest, with a track record of developing over 2.3 GW of solar photovoltaic capacity, brings its local expertise and execution capabilities, while Brookfield contributes global capital, corporate offtake relationships, and operational know-how. Solarvest’s Executive Director and Group CEO, Datuk Davis Chong, described the collaboration as a milestone for Malaysia’s clean energy transition, aligning with the National Energy Transition Roadmap (NETR) and enhancing Malaysia’s decarbonization efforts. The partnership aims to expand Solarvest’s regional footprint while strengthening Malaysia’s energy security through renewable energy adoption.
The joint venture is poised to support ASEAN’s broader carbon neutrality ambitions by advancing sustainable energy infrastructure. By combining Solarvest’s local market knowledge with Brookfield’s global resources, the partnership is expected to drive significant growth in Malaysia’s renewable energy sector, contributing to economic development and environmental sustainability. The projects are set to bolster Malaysia’s position as a leader in clean energy within the region, addressing the rising demand for reliable and green power solutions.
(Source: Business Today)
