The two parties have signed a joint investment framework agreement to develop, build and exploit 1.5 GW of Zonne-Plus-Plus-Storage projects in the next three to five years.
Canadian investment firm Brookfield and Malaysian sun company Solarvest Holdings BHD have concluded a joint investment framework agreement for 1.5 GW of solar and battery energy storage projects in Malaysia.
According to the conditions of the agreement, the two parties will jointly develop, build and operate the projects together in the next three to five years.
A statement on Bursa, the Malaysian stock exchange, adds that the projects will be developed under the relevant renewable energy programs that are available in Malaysia, including the Renewable Energy Supply Scheme from companies And Large -scale solar program.
Projects will be developed by a vehicle with a special goal, according to the investment framework, where Solarvest has a share of 51% and Brookfield the remaining 49%.
The collaboration with Solarvest is the first investment of Brookfield in Malaysia and is made through the Catalytic Transition Fund of the company, which is supported by $ 1 billion in catalytic capital supplied by Altérra, the world’s largest private climate investment fund.
Brookfield says that it has chosen to invest in Malaysia because of the strong market for renewable energy market that is supported by supporting policy frameworks.
“Malaysia stands up as a regional leader in clean energy, supported by ambitious national goals and rising demand from both utility companies and companies in view of the growing role of the country as a hub for data centers and the production of semiconductors,” added Brookfield’s head of renewable power and transition for Asia Pacific, Daniel Cheng.
The portfolio of Solarvest of completed and current solar projects in Malaysia reaches 2.3 GW, while Brookfield’s portfolio of renewable power and transition assets worldwide amount to a total of 270 GW operational and development capacity in total.
Last month, subsidiaries that belong to Malaysian companies revealed Gentari and Gamuda, plans to develop 1.5 GW solar energy Bound by storage of battery energy to deliver hyperscale data centers in Malaysia.
More recently, the government of Malaysia has approved 13 Solar projects With a cumulative capacity of nearly 2 GW in the fifth large -scale solar program of the country.
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