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Global investment firm Brookfield and Japanese financial services company Mitsubishi HC Capital have formed a joint venture (JV) to own and operate renewable generation projects in Europe.
With an initial 570MW European portfolio valued at approximately €400 million (US$462 million), the JV will acquire operational assets with a view to expanding into Australia after launch.
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The platform currently includes operating wind and solar assets located across the UK, Spain, Sweden, Finland, France and Ireland, contracted under power purchase agreements (PPAs). Growth will come by acquiring operational projects offering contracted revenue profiles, not greenfield development.
The JV is expected to launch during the second half of 2026. The companies will jointly control the platform, while Brookfield will oversee day-to-day operations. Future acquisitions will require approval from both partners, with capital contributions made on a pro rata basis.
The deal expands Mitsubishi HC Capital’s exposure to the renewable energy sector outside its domestic market and strengthens Brookfield’s position as one of the largest investors in global clean energy infrastructure. It follows Brookfield finalising its acquisition of Canadian independent power producer (IPP) Boralex last week.
Brookfield, Foxconn target 1GW Vietnam renewables portfolio
Brookfield has also partnered with Taiwanese electronics manufacturer Foxconn to develop up to 1GW of renewable energy and energy storage capacity in Vietnam.
Under a long-term PPA, the 1GW portfolio of utility-scale solar, wind and battery energy storage projects will power Foxconn and its partners’ operations in Vietnam.
Under the terms of the agreement, Brookfield and Foxconn will jointly invest in and manage the targeted projects. Financial terms of the deal were not disclosed.
For Brookfield, the agreement adds to a growing portfolio of clean energy investments in Southeast Asia. Through its Catalytic Transition Fund, the investor backed a 100MW wind project in central Vietnam last year and acquired Singapore-based clean energy developer Alba Renewables.
The company has also partnered with Malaysia’s Solarvest Holdings to develop solar and battery storage projects across Southeast Asia.
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