Solarvest and Brookfield join forces for 1.5GW Malaysian solar and BES projects

Core Insights - Solarvest Holdings has entered into a joint investment framework agreement with Brookfield to develop at least 1.5GW of utility-scale solar and battery energy storage projects in Malaysia over the next three to five years [1][2] Group 1: Partnership Details - This collaboration marks Brookfield's first investment in Malaysia through its Catalytic Transition Fund, which focuses on decarbonisation in emerging markets [2] - Solarvest will hold a 51% majority stake in each project, while Brookfield will own the remaining 49% [3] - The partnership aims to undertake projects under the Corporate Renewable Energy Supply Scheme, allowing domestic businesses to purchase renewable energy directly from producers [4] Group 2: Roles and Responsibilities - Solarvest is responsible for the development and implementation of the projects, while Brookfield will secure offtakers and facilitate financing arrangements [4] - Financing strategies will be tailored for each project, considering options like borrowing, internal reserves, sukuk issuance, and potential cash calls [5] Group 3: Market Context - Brookfield's renewable power portfolio exceeds 270GW globally, while Solarvest has over 2.3GW of solar photovoltaic projects in Malaysia [5] - Malaysia is positioned as a regional leader in clean energy, driven by ambitious national targets and increasing demand from utilities and corporates [6] - Brookfield is committed to investing significantly in Malaysia, aligning its capabilities with the strong market fundamentals to provide power and decarbonisation solutions [7]