The business is led by a strong and proven management team, which, combined with Brookfield's capital and capabilities, provides the opportunity to accelerate growth and scale the platform across other target markets in Southeast Asia.

In Vietnam, Brookfield has also acquired a 100 MW long-term, contracted, operational wind project in the central region. The investment provides Brookfield with a seed and highly de-risked entry into a market with opportunities to invest at scale and strong tailwinds including support policies, rapid industrialisation and growing, robust power demand.

Daniel Cheng, head of renewable power and transition at Brookfield Asia-Pacific, said, “These transactions, in addition to our recent joint venture in Malaysia, provide Brookfield with a strategic entry of scale into Southeast Asia and a network effect that strengthens and enhances our renewable power capabilities across the region. The ecosystem we have created will help us better underwrite and build our investments across the entire jurisdiction.

"Southeast Asia is at the forefront of the global energy transition, with surging demand, favourable policy frameworks, and a deep need not just for capital, but also experienced operators with strong track records of unlocking renewable power at scale. By acquiring a seed asset in Vietnam and backing Alba's expansion across the Philippines, Thailand and beyond, we are catalysing platforms that can deliver reliable, low-carbon energy where it is most needed and impactful."

Andrew Affleck, CEO of Alba Renewables, said, “The move marks an exciting milestone for Alba Renewables. We are proud of the progress our team has made in building the foundation of a high-quality clean-energy operating platform across Southeast Asia. Brookfield's backing strengthens our ability to deliver on Alba's mission of providing clean, dependable, and competitively priced energy at scale to support the regional energy transition.”

The investments have been made through Brookfield's Catalytic Transition Fund (CTF), which also recently invested in a partnership with clean energy expert Solarvest in Malaysia to jointly develop more than 1.5 GW of solar and battery energy storage projects.

CTF, backed by $1 billion of catalytic capital from ALTÉRRA, is Brookfield's dedicated vehicle to mobilise private capital into emerging markets – including Southeast Asia – to accelerate the global net-zero transition.