Brookfield Asset Management, an asset manager specializing in renewable energy, infrastructure, real estate, and private equity, announced the completion of the acquisition of Alba Renewables, a renewable energy project developer. This acquisition marks Brookfield’s entry into the Philippines, Thailand and Vietnam.
The acquired company, Albas Renewables, has a portfolio of 1.8 GW of solar, wind, and battery storage assets, primarily located in the Philippines and Thailand. 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.
Previously, Brookfield has also acquired a 100 MW long-term, contracted, operational wind project located in Vietnam’s central region.
The investments were executed through Brookfield’s Catalytic Transition Fund (CTF), which also recently partnered with clean-energy specialist Solarvest in Malaysia to co-develop over 1.5 GW of solar and battery storage projects.
Supported by $1 billion in catalytic capital from ALTÉRRA, CTF serves as Brookfield’s dedicated platform for mobilizing private investment into emerging markets, including Southeast Asia, to accelerate the global shift toward net-zero.
Alba Renewables CEO Andrew Affleck said, “Today 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.”
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, 76 solar M&A transactions were executed in 9 M 2025, up from 62 in 9M 2024.
Earlier, in September 2025, climate-focused investment firm Wollemi Energy Group, part of Wollemi Capital, completed the acquisition of substantially all of MPower’s business, an Australian developer of renewable energy and battery storage systems, for A$19 million (~$12.5 million).
