BCI, Norges Bank, Brookfield Launch Northview With 2.3 GW Asset Portfolio

British Columbia Investment Management Corporation (BCI), Norges Bank Investment Management, and Brookfield have launched Northview Energy, a new company. In a release, the companies said Northview Energy will be equally funded and owned by the three investors. It will hold a diversified portfolio of contracted, operating renewable assets in the U.S. and Canada.

The company said the privately held renewable energy firm will acquire a seed portfolio of assets 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.

Aquires 2.3GW Capacity Across Six Markets

The seed portfolio comprises 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 to Acquire $1.5 Bn Brookfield Portfolio Assets

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.

Future acquisitions are expected to focus on de-risked operating assets, including onshore wind, utility-scale solar, and battery storage, generating stable and predictable cash flows under long-term contracts with investment-grade counterparties. Any future acquisitions made by Northview will be subject to the prior approval of BCI, Norges Bank Investment Management, and Brookfield, with each party contributing pro rata to fund acquisitions.

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. TD Securities acted as exclusive financial advisor to Brookfield on the sale of the seed portfolio and commitment for future acquisitions.

Leadership View

Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources at BCI, said: “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.”

Harald von Heyden, Global Head of Energy and Infrastructure at Norges Bank Investment Management, said: "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."