Mitsubishi HC Capital Inc. and Brookfield Asset Management Ltd. have announced the formation of a joint venture to acquire and operate a diversified portfolio of contracted, operational renewable energy assets across Europe.
The joint venture’s seed portfolio comprises approximately 570 megawatts (MW) of installed capacity distributed across the UK, Spain, Sweden, Finland, France, and Ireland, representing an equity value of approximately €400 million. The assets are secured under long-term power purchase agreements (PPAs) with a weighted average remaining term of roughly ten years.
The partnership will be jointly controlled by both entities under customary governance structures. Brookfield will oversee day-to-day operations, led by an appointed management team, whilst future asset acquisitions will require bilateral approval and pro-rata capital contributions from both firms.
The venture is currently evaluating a pipeline of secondary acquisitions targeting operational onshore wind, utility-scale solar, and battery energy storage assets in Europe and Australia. The financial architecture of the joint venture is structured to generate stable cash flows and predictable income streams to insulate the portfolio against broader market volatility.
Subject to regulatory approvals and customary closing conditions, the joint venture is scheduled to launch formally during the second half of 2026. Macquarie Capital acted as the exclusive financial advisor to Mitsubishi HC Capital, whilst Santander advised Brookfield.
Hayato Shinada, Senior Corporate Officer and General Manager of the Global Environment & Energy Department at Mitsubishi HC Capital, commented, “This initiative is positioned as a growth investment under our Medium-term Management Plan for FY2026-FY2028. By combining our financial expertise with Brookfield’s asset management capabilities, we will scale our business platform to deliver reliable operations and leverage this European platform to expand globally.”
Ignacio Paz-Ares, Deputy Chief Investment Officer for Brookfield’s Energy group, added, “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. The platform is well positioned for growth across Europe and Australia.”
