Brookfield, a global investment firm, has partnered with Malaysian clean energy company Solarvest Holdings Bhd to develop over 1.5 gigawatts (GW) of solar and battery storage projects in Malaysia. This collaboration marks Brookfield’s inaugural investment in Malaysia through its Catalytic Transition Fund, which focuses on decarbonisation in emerging markets.
The decision to invest in Malaysia is driven by the country’s robust renewable energy market, supported by strong demand and favourable policies. Daniel Cheng, Brookfield’s Head of Renewable Power & Transition for Asia Pacific, highlighted Malaysia’s leadership in clean energy, noting the country’s role as a hub for data centres and semiconductor manufacturing. “Brookfield is committed to deploying significant capital into Malaysia,” Cheng stated, emphasising the alignment of market fundamentals with Brookfield’s capabilities.
Solarvest, with a track record of over 2.3 GW of solar photovoltaic projects in Malaysia, will leverage its local expertise, whilst Brookfield will provide large-scale capital and operational capabilities. Solarvest’s CEO, Dato’ Davis Chong, expressed enthusiasm for the partnership, stating it will drive Malaysia’s decarbonisation agenda and expand Solarvest’s regional footprint.
This partnership is expected to significantly contribute to Malaysia’s National Energy Transition Roadmap, advancing clean energy adoption and supporting the region’s journey towards carbon neutrality.
