- Brookfield, Solarvest to develop 1.5GW solar, battery projects in Malaysia.
- First investment via Brookfield’s Catalytic Transition Fund in Malaysia.
- Supports Malaysia’s clean energy goals amid data center, semiconductor demand.
According to The Asset, Brookfield, a Canadian global investment firm, partnered with Malaysia's Solarvest Holdings to develop and operate at least 1.5 gigawatts (GW) of utility-scale solar and battery storage projects in Malaysia. This partnership represents Brookfield's first investment in Malaysia through its Catalytic Transition Fund to advance decarbonization in developing markets.
Brookfield has over 270GW of renewable and transition assets under management, while Solarvest has experience to draw from, having developed 2.3GW of solar photovoltaic projects in Malaysia. This collaboration focuses on Malaysia's strong renewable energy sector thanks to growing demand from data centers and semiconductor production, with some governmental support.
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Brookfield brings large-scale capital, a vast corporate network, and operational expertise. Meanwhile, Solarvest contributes in-depth local development expertise and a strong track record of solar project delivery. The head of renewable power and transition for Asia-Pacific at Brookfield, Daniel Cheng, said: "Malaysia is positioning itself as a regional leader
Davis Chong, the CEO of Solarvest, stated, "By leveraging our expertise along with Brookfield's global network and financial firepower, we are in the unique position to accelerate the decarbonisation agenda of Malaysia and will grow sustainably, build our presence regionally.”This partnership in support of Malaysia's National Energy Transition Roadmap is timely, to also help meet the increasing demand for energy, and to support sustainable growth of the renewable energy sector in Southeast Asia, which is expected to grow dramatically by 2030.