Mitsubishi HC Capital and Brookfield Asset Management formed a joint venture (JV) for a privately held renewable energy company that will acquire and operate a diversified portfolio of contracted, operating renewable energy assets in Europe.
The seed portfolio comprises approximately 570 megawatts of installed capacity diversified across the U.K., Spain, Sweden, Finland, France and Ireland, with an equity value of approximately EUR 400 million. The assets are highly contracted under long-term power purchase agreements, which have a weighted average remaining term of approximately 10 years. Collectively, the assets offer a highly stabilized cash flow profile, generating predictable income with strong downside protection and resilience across market cycles.
The JV is also evaluating potential future acquisitions of additional renewable energy assets in Europe and Australia. Future acquisitions are expected to focus on stabilized operating assets, including onshore wind, utility-scale solar, and battery energy storage, underpinned by attractive commercial arrangements consistent with those of the seed portfolio.
The JV will be jointly controlled by Mitsubishi HC Capital and Brookfield through customary governance arrangements. Brookfield will be responsible for the JV’s operations, supported by an experienced management team appointed to lead the business. Future asset acquisitions will be subject to the approval from Brookfield and Mitsubishi HC Capital, with each contributing on a pro rata basis.
“This initiative is positioned as a growth investment under the ‘invest in high-profitability business domains’ of our business portfolio restructuring strategy in our Medium-term Management Plan for FY2026-FY2028 (2028 MTMP),” Hayato Shinada, senior corporate officer, global environment and energy department, general manager of Mitsubishi HC Capital, said. “By combining Mitsubishi HC Capital’s financial and investment expertise with Brookfield’s asset management capabilities, we will build and scale our business platform to deliver reliable and sustainable operations. In addition, we will leverage expertise in development and operations gained through our broader European renewable energy partners, including European Energy A/S. As the importance of renewable energy continues to grow, particularly from an energy security perspective, we will leverage our European platform to expand globally and pursue growth opportunities, driving long-term value creation.”
Ignacio Paz-Ares, deputy chief investment officer for Brookfield’s energy group, said, “We are pleased to partner with Mitsubishi HC Capital to launch a scaled renewable energy platform anchored by a diversified seed portfolio of high-quality operating assets. With the potential to deploy significant additional capital into a pipeline of renewable power assets, the platform is well positioned for growth across Europe and Australia.”
Subject to the receipt of required approvals and the satisfaction of customary closing conditions, the JV is expected to officially launch during H2/26.
Macquarie Capital and Santander acted as exclusive financial advisor to Mitsubishi HC Capital and Brookfield, respectively, on the transaction for the seed portfolio.
