Mitsubishi HC Capital and Brookfield have formed a joint venture to buy and run a portfolio of contracted renewable energy assets in Europe, starting with about 570 megawatts of installed capacity across the U.K., Spain, Sweden, Finland, France and Ireland.
The seed portfolio carries an equity value of about EUR 400 million and is backed by long-term power purchase agreements with a weighted average remaining term of about 10 years. The company said the assets are already operating and are expected to generate stable cash flow.
The joint venture is also looking at additional acquisitions in Europe and Australia. Future targets are expected to include onshore wind, utility-scale solar and battery energy storage, with the venture aiming to expand beyond the initial 570-megawatt platform.
Brookfield will handle operations, while Mitsubishi HC Capital and Brookfield will jointly control the venture and each fund future acquisitions on a pro rata basis. The JV is expected to officially launch in the second half of 2026, pending approvals and closing conditions.
For Mitsubishi HC Capital, the deal is being positioned as a growth investment under its FY2026-FY2028 medium-term plan. The company said it will use the partnership to build a larger renewable platform, while Brookfield said the seed portfolio gives the venture a base for additional capital deployment into renewable power assets. Today the company's shares have moved 0.3% to a price of $47.29. Check out the company's full 8-K submission here.
