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Brookfield Asset Management and Mitsubishi HC Capital Form a Renewable Energy Joint Venture

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Brookfield Asset Management (BAM.TO, BAM) and Mitsubishi HC Capital after trade Tuesday said they have formed a joint venture that will acquire and operate contracted renewable energy assets in Europe.

The initial portfolio includes about 570 megawatts of installed capacity diversified across the U.K., Spain, Sweden, Finland, France and Ireland, with an equity value of about 400-million euros, they added.

"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 companies said, adding that the joint venture is also evaluating additional renewable energy acquisitions in Europe and Australia.

Brookfield will manage the venture's operations, while both partners will jointly oversee governance and future investments. The venture is set to launch in the second half of 2026, subject to regulatory approvals and customary closing conditions, according to the statement.

Brookfield shares closed up $1.61 to $65.77 on the Toronto Stock Exchange.

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