Global alternative asset manager Brookfield is partnering Malaysian clean energy company Solarvest Holdings to develop, build, and operate solar and battery energy storage projects in the Southeast Asian country.
The partnership will deliver at least 1.5 GW of utility-scale projects in Malaysia over the next three to five years, the firms said in a statement. It is Brookfield’s first transaction in Malaysia via its Catalytic Transition Fund (CTF), which targets decarbonisation investments in emerging markets.
Kuala Lumpur-listed Solarvest, which has a market capitalisation of around 2.2 billion ringgit ($522 million), has developed more than 2.3 GW of solar PV across both completed and ongoing projects in Malaysia and neighbouring countries in Southeast Asia.
Earlier this month, the company said that it was selected to develop a 470 MW solar power plant in Perak, as part of a partnership with Malaysia’s power and water producer Malakoff Corp, in which it holds a 20% stake. The project, which has national electricity utility company Tenaga Nasional as a power offtaker, is slated to start commercial operations by the end of 2027.
Stock analysts tracking Solarvest note that the company has an outstanding order book of a record 2.4 billion ringgit. It recorded 15.9 million ringgit in earnings for the three months to June 30, 2025, on the back of 137.7 million ringgit in revenue, driven by progress in several utility-scale projects.
Brookfield’s CTF, with a target of $5 billion, was launched at the end of 2023 at the 28th United Nations Climate Change Conference, with a commitment of up to $1 billion from UAE-based ALTÉRRA funds.
It has since raised additional capital from Singapore state investors GIC and Temasek, as well as Canada’s La Caisse, and insurer Prudential, among others. Brookfield, which said it will commit about 10% of the fund’s target, announced an initial close for the vehicle at $2.4 billion in September last year.
Founded in Toronto, Canada, Brookfield owns and operates a portfolio of renewable power and transition assets that amounts to more than 270 GW of operational and development capacity for renewable energy.
