Solarvest Brookfield Partner Develop 1.5GW Solar Battery Projects Malaysia

Solarvest Holdings Bhd and Canadian investment firm Brookfield have entered into a joint investment framework agreement to develop, construct, and operate at least 1.5 gigawatts of utility-scale solar and battery energy storage projects in Malaysia over the next three to five years. Solarvest will contribute its local development expertise and experience from more than 2.3 GW of solar photovoltaic projects, while Brookfield will provide capital, corporate offtake relationships, and operational capabilities. This marks Brookfield's first investment in Malaysia through its Catalytic Transition Fund, aimed at accelerating decarbonization in emerging markets. The partnership involves establishing special purpose vehicles for each project, with Solarvest holding 51% equity and Brookfield 49%, targeting projects under Malaysia's Corporate Renewable Energy Supply Scheme to enhance renewable energy adoption and energy security. Both companies see this collaboration as a milestone for Malaysia's clean energy transition aligned with the National Energy Transition Roadmap and a step toward regional expansion to support carbon neutrality ambitions. The deal also positions Solarvest to expand its renewable energy asset portfolio and EPCC order book by leveraging Brookfield's financial strength and global network.