Solarvest, GreenRock eye 1 GW of fresh renewables in Taiwan, Malaysia

Malaysian solar installer Solarvest Holdings Bhd (KLSE:SLVEST) has joined forces with Taiwan’s GreenRock Energy to deploy 1 GW of renewable energy capacity in their home countries over the next five years.

The partnership unlocks substantial growth opportunities for each of the two companies, they said on Monday.

The duo will bet on Malaysia’s potential for renewable energy development as the country aims to reach a 40% green energy share by 2035 and become a low-carbon nation by 2040. They will take advantage of beneficial policies undertaken by the government, such as a programme supporting large-scale solar power projects, along with initiatives that will allow the export of cross-border renewable energy.

Solarvest had a 1.2-GW regional project portfolio at the end of March, including 348 MW of solar assets. The company, which is active in several Asian markets, is co-developing large-scale agrivoltaic and aquavoltaic projects in Taiwan with GreenRock. The partners target 500 MW of capacity under this initiative.

For GreenRock, the new collaboration will allow it to leverage Solarvest’s strengths in Malaysia and other regional markets, seeing it as “a strategic gateway” to grow its footprint across Southeast Asia.

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