The Canadian investment firm Brookfield and the Malaysian solar company Solarvest Holdings have entered into a joint investment framework agreement to develop at least 1.5 GW of solar and battery energy storage projects in Malaysia. Under the agreement, the two companies will jointly develop, build, and operate the projects over the next three to five years. The projects will fall under Malaysia’s key renewable energy schemes, including the Corporate Renewable Energy Supply (CRESS) Programme and the Large Scale Solar (LSS) Programme. According to the framework, a special purpose vehicle (SPV) will be established to carry out the developments, with Solarvest holding a 51% stake and Brookfield the remaining 49%.

This announcement follows recent momentum in Malaysia’s solar sector. In August 2025, subsidiaries of local firms Gentari and Gamuda announced plans to develop 1.5 GW of solar capacity with battery storage to supply hyperscale data centers in the country. In early September 2025, the government approved 13 new solar projects under the fifth round of its Large Scale Solar Programme, with a combined capacity of nearly 2 GW.

As of the end of 2024, Malaysia had an installed solar capacity of nearly 2 GW, representing around 5% of its total electricity generation capacity. The country has set a target to reach 70% renewables in its power capacity mix by 2050, which would require more than a tenfold increase in renewable capacity from 2023 levels.