en.Wedoany.com Reported - Global investment firm Brookfield and Japanese financial services company Mitsubishi HC Capital have jointly established a joint venture to hold and operate renewable energy power generation projects in Europe.

The joint venture initially holds a 570MW European asset portfolio valued at approximately €400 million ($462 million). The platform will acquire operational renewable energy projects and plans to expand into the Australian market after launch.

Currently, this portfolio includes operational wind and solar photovoltaic assets located in the UK, Spain, Sweden, Finland, France, and Ireland, with projects generating revenue through power purchase agreements (PPAs). Future growth will be achieved by acquiring operational projects with stable contracted revenue, rather than engaging in greenfield development.

The joint venture is expected to commence operations in the second half of 2026. Both parties will jointly control the platform, with Brookfield responsible for day-to-day operational management. Future acquisitions require joint approval from both parties and will be funded in proportion to their capital contributions.

This transaction expands Mitsubishi HC Capital's renewable energy business footprint outside its home market, while also solidifying Brookfield's position as one of the largest investors in global clean energy infrastructure. This follows Brookfield's acquisition of Canadian independent power producer (IPP) Boralex last week.

Separately, Brookfield has partnered with Taiwanese electronics manufacturer Foxconn to develop a portfolio of up to 1GW of renewable energy and energy storage projects in Vietnam.

Under a long-term power purchase agreement, this 1GW portfolio, consisting of utility-scale solar, wind, and battery energy storage projects, will provide electricity for Foxconn and its partners' operations in Vietnam.

Under the terms of the agreement, Brookfield and Foxconn will jointly invest in and manage these target projects. The financial terms of the transaction were not disclosed.

For Brookfield, this agreement enriches its growing clean energy investment portfolio in Southeast Asia. The company previously supported a 100MW wind power project in central Vietnam last year through its Catalytic Transition Fund and acquired Singapore-based clean energy developer Alba Renewables.

Brookfield is also collaborating with Malaysia's Solarvest Holdings to jointly develop solar photovoltaic and battery energy storage projects in Southeast Asia.

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