British Columbia Investment Management Corporation, Norges Bank Investment Management, and Brookfield announced the launch of Northview Energy, a privately held renewable energy company focused on acquiring and owning contracted, operating renewable energy assets across the United States and Canada.
The new platform will be equally funded and owned by the three partners and will initially acquire a seed portfolio of assets from renewable energy companies currently managed by Brookfield, including projects associated with Deriva Energy, Scout Clean Energy, and Urban Grid.
The seed portfolio includes 22 contracted utility-scale renewable energy assets comprising solar and onshore wind facilities located across multiple U.S. power markets. The portfolio represents approximately 2.3 gigawatts of operating capacity and is backed by long-term power purchase agreements with investment-grade counterparties, with a weighted average remaining term of roughly 16 years.
The partners said the portfolio is designed to generate stable and predictable cash flows, offering a highly de-risked profile with resilience across market cycles while supporting growing electricity demand in North American energy markets.
The three investors will share governance rights in the new company, and a dedicated management team will be appointed to lead Northview Energy.
Northview has also entered into a framework agreement enabling potential future acquisitions of renewable energy assets from Brookfield-managed portfolio companies in the United States and Canada representing up to $1.5 billion of equity capital.
Future acquisitions are expected to focus on operating renewable infrastructure including onshore wind, utility-scale solar, and battery storage assets that produce stable revenues under long-term contracts with investment-grade counterparties. Any future transactions will require approval from each partner, with capital contributions made on a pro rata basis.
Subject to required approvals and customary closing conditions, Northview Energy is expected to officially launch during the second quarter of 2026.
KEY QUOTES:
“Northview is a highly strategic addition to our infrastructure portfolio, bringing together de-risked renewable energy assets, long-term contracted revenues, and a clear path for growth alongside likeminded, high-calibre partners. With a diversified portfolio of new solar and wind projects serving an established base of premium clients, the platform is designed to be resilient in an evolving energy landscape.”
Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources at BCI
“This marks our first investment in North America and an important step in diversifying our renewable energy infrastructure portfolio. We are pleased to partner with Brookfield and BCI as we seek to capture compelling opportunities in one of the world’s largest renewable energy markets.”
Harald von Heyden, Global Head of Energy and Infrastructure at Norges Bank Investment Management
“This partnership marks the creation of a scalable platform for Brookfield and our partners. Northview Energy will be an owner of high-quality operating assets that deliver affordable and clean power to the grid and the framework for future acquisitions provides a clear growth pathway for the vehicle to add de-risked, high-quality, cash yielding assets delivering strong returns.”
Jehangir Vevaina, Chief Investment Officer for Brookfield’s Renewable Power & Transition Group
