Brookfield, a global investment firm founded in Canada, has entered into a joint investment framework agreement with Malaysian clean energy firm Solarvest Holdings Bhd to jointly develop, construct and operate at least 1.5 GW of utility-scale solar and battery energy storage projects in Malaysia over next three to five years.

Solavest said in a statement on Monday that under the partnership, Solarvest will bring its deep local development expertise and proven execution track record, having developed more than 2.3 GW of solar PV across completed and ongoing projects in Malaysia.

Brookfield will bring its access to large-scale capital, strong global and regional corporate offtake relationships and proven operational capabilities.

Brookfield owns and operates one of the world’s largest, most diversified portfolios of renewable power and transition assets with more than 270 GW of operational and development capacity.

The partnership with Solarvest is Brookfield’s first investment in Malaysia via its Catalytic Transition Fund, Brookfield’s primary vehicle to invest in and accelerate decarbonization in emerging markets globally.

Malaysia was selected due to its standing in Southeast Asia as a strong and attractive renewable energy market, underpinned by robust demand fundamentals and supportive policy frameworks.

“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 Group Chief Executive Officer Davis Chong said they are delighted to embark on this partnership with Brookfield, which marks a pivotal milestone for Solarvest as they accelerate the transition 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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