British Columbia Investment Management Corporation (?BCI?), Norges Bank Investment Management and Brookfield Asset Management Ltd. announced the launch of Northview Energy, a privately held renewable energy company that will acquire and own a diversified portfolio of contracted, operating renewable assets in the U.S. and Canada. Northview Energy will be equally funded and owned by the three investors. The Company will acquire a seed portfolio of assets from leading renewable energy companies currently managed by Brookfield, including assets from Deriva Energy, Scout Clean Energy and Urban Grid.
Northview offers a highly de-risked, stable cash flow profile, generating predictable income with strong downside protection, and resilience across market cycles. The seed portfolio is comprised of 22 contracted, high-quality 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 approximately 2.3 gigawatts of operating capacity diversified across six power markets. All assets are backed by long-term power purchase agreements with investment grade counterparties, with a weighted average remaining term of approximately 16 years.
BCI, Norges Bank Investment Management and Brookfield will share customary governance rights and a dedicated management team will be appointed to lead the Company. Northview has also entered into a Framework Agreement for potential future acquisitions of renewable assets from Brookfield-managed portfolio companies in the U.S. and Canada representing up to $1.5 billion of equity capital. Subject to the receipt of required approvals and the satisfaction of customary closing conditions, Northview Energy is expected to officially launch during the second quarter of 2026 under the ownership of BCI, Norges Bank Investment Management and Brookfield.
