By Robb M. Stewart
Brookfield Asset Management is teaming with British Columbia Investment Management and Norges Bank Investment Management to launch Northview Energy, a closely held renewable energy company that will buy and own a portfolio of operating renewable assets in the U.S. and Canada.
Northview Energy will be equally funded and owned by the three investors.
The parent companies plan for Northview to acquire a seed portfolio of assets from renewable energy companies currently managed by Brookfield, including assets from Deriva Energy, Scout Clean Energy and Urban Grid. Northview also entered into a framework agreement for potential future acquisitions of renewable-energy assets from Brookfield-managed portfolio companies in the U.S. and Canada representing up to $1.5 billion of equity capital.
The new energy company brings together the might of New York-based asset manager Brookfield, one of Canada's largest institutional investors, and the manager of the Norwegian government's global pension fund.
The investors said Northview offers a de-risked, stable cash flow profile that will generate predictable income. Its seed portfolio comprises 22 contracted, utility-scale solar and onshore wind assets in power markets experiencing strong energy demand growth across the U.S.
The assets are newly operational and represent about 2.3 gigawatts of capacity across six power markets. All assets are backed by long-term power purchase agreements, with a weighted average remaining term of roughly 16 years, the investors said.
Future acquisitions by Northview are expected to focus on operating assets, including onshore wind, utility scale solar and battery storage that are generating stable cash flows under long-term contracts. Any future dealmaking will be subject to the prior approval of BCI, Norges Bank Investment Management and Brookfield, with each party contributing pro rata to fund acquisitions.
Northview is expected to officially launch during the second quarter under the ownership of the three investors.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
March 03, 2026 07:40 ET (12:40 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments