Brookfield Makes First Renewable Energy Investments in Southeast Asia, Acquires Alba Renewables to Anchor Regional Expansion

Brookfield Asset Management has announced its first renewable energy investments in Southeast Asia, identifying the Philippines as a key growth market through the acquisition of clean energy developer Alba Renewables. The development, disclosed on November 26, forms part of Brookfield’s wider decarbonisation strategy aimed at scaling low-carbon power across high-growth emerging markets.

Alba Renewables operates a 1.8 GW portfolio of wind, solar and battery storage projects, primarily located in the Philippines and Thailand, with additional early-stage development in Vietnam. Brookfield stated that the acquisition provides it with a strong leadership team and a platform capable of expanding further across the region.

“We are catalysing platforms that can deliver reliable, low-carbon energy where it is most needed and impactful,” said Daniel Cheng, Brookfield Asia Pacific Head of Renewable Power and Transition. He added that backing Alba’s expansion across the Philippines, Thailand and Vietnam gives Brookfield a significant foothold in Southeast Asia’s energy transition.

For Alba, the acquisition marks a major step in its regional growth plans. CEO Andrew Affleck said the partnership strengthens the company’s ability to scale clean energy development. “Today marks an exciting milestone for Alba Renewables. Brookfield’s backing enhances our mission to deliver clean, dependable and competitively priced energy at scale across Southeast Asia,” he said.

Brookfield’s Southeast Asia investments were executed through its Catalytic Transition Fund, a capital vehicle supported by USD 1 billion from ALTERRA to accelerate private investment in emerging markets. While the fund has been expanding its presence through solar and battery storage partnerships, the Alba acquisition positions the Philippines as one of Brookfield’s central markets for long-term renewable energy growth.