Solarvest, Brookfield Ink 1.5 GW Renewable Project Deal
KUALA LUMPUR, Sept 22 (Bernama) -- Solarvest Holdings Bhd has signed a joint investment framework agreement with Brookfield CTF Asia Holdings Pte Ltd (BF) to develop, construct and operate at least 1.5 gigawatts (GW) of utility-scale solar and battery energy storage projects in Malaysia.
Solarvest said it will contribute local development expertise and its track record of more than 2.3 GW in solar photovoltaic (PV) projects, while Brookfield will bring access to large-scale capital, strong corporate offtake relationships and proven operational capabilities.
The clean energy firm said Brookfield owns and operates one of the world’s largest and most diversified portfolios of renewable power and transition assets, with more than 270 GW in operation and development.
“Malaysia was selected for its position as a strong and attractive renewable energy market in Southeast Asia, supported by robust demand fundamentals and favourable policy frameworks.
“The partnership with Solarvest is Brookfield’s first investment in Malaysia through its Catalytic Transition Fund, the company’s primary vehicle to accelerate decarbonisation in emerging markets,” Brookfield said in a statement.
Solarvest, executive director and group chief executive officer Datuk Davis Chong said the tie-up with the Canada-based global investment firm marks a pivotal milestone as the company accelerates the shift to a low-carbon future.
“By combining our expertise and innovation with our partner’s global network and financial strength, we are uniquely positioned to deliver impactful renewable energy solutions that will drive Malaysia’s decarbonisation agenda in line with the National Energy Transition Roadmap (NETR).
“Beyond Malaysia, this collaboration allows us to expand regionally, meeting growing demand for sustainable power, creating lasting value by advancing clean energy adoption, strengthening energy security and supporting the region’s path towards carbon neutrality,” he said.
Brookfield, head of renewable power and transition for Asia Pacific Daniel Cheng said Malaysia is emerging as a regional clean energy leader, driven by ambitious national targets and rising demand from utilities and corporates, particularly in data centres and semiconductor manufacturing.
“Brookfield is committed to deploying significant capital into Malaysia, where strong market fundamentals align with our ability to deliver power and decarbonisation solutions to large corporates, hyperscalers and other key customers globally,” Cheng said.
-- BERNAMA