Malaysian solar installer Solarvest Holdings Bhd and Taiwan's GreenRock Energy have announced a strategic partnership to deploy 1 GW of renewable energy capacity in Malaysia and Taiwan over the next five years. The collaboration aims to capitalize on the significant growth opportunities in both countries' renewable energy sectors.
According to the companies, the partnership will unlock substantial growth opportunities for each of them, leveraging Solarvest's expertise in Malaysia and GreenRock's experience in Taiwan.
The move comes as Malaysia seeks to reach a 40% green energy share by 2035 and become a low-carbon nation by 2040, supported by favorable government policies and initiatives.
“We see Malaysia as a strategic gateway to grow our footprint across Southeast Asia,” said a spokesperson for GreenRock Energy. “This partnership will allow us to leverage Solarvest's strengths in Malaysia and other regional markets, enabling us to achieve our ambitious renewable energy goals.”
Solarvest, which had a 1.2-GW regional project portfolio at the end of March, including 348 MW of solar assets, is actively involved in several Asian markets.
The company is co-developing large-scale agrivoltaic and aquavoltaic projects in Taiwan with GreenRock, with a target of 500 MW of capacity under this initiative.
