Norges Bank, BCI, Brookfield launch $2.6bn renewable energy joint venture
Norges Bank Investment Management (NBIM), British Columbia Investment Management (BCI) and Brookfield Asset Management have launched Northview Energy – a jointly owned renewable energy company. NBIM, which manages the $2.1bn Norwegian Government Pension Fund Global, will invest nearly $425m for its 33.3% stake.
Net Zero Investor’s Renewable Infrastructure Forum | 18th March 2026 | The Chesterfield, Mayfair
Northview, valued at $2.6bn, will acquire operating renewable energy assets in Canada and the US. Its initial portfolio comprises 22 utility-scale solar and onshore wind assets with a collective operating capacity of 2.3GW.
For NBIM, this expands its unlisted renewable energy infrastructure holdings and marks the portfolio’s inaugural North American investment.
“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”, commented NBIM’s global head of energy and infrastructure Harald von Heyden.
In a statement, Brookfield said the investment offers not only stable cash flow but also de-risked income with ‘strong downside protection’. All the seed portfolio’s assets have long-term power purchase agreements in place with a weighted average remaining term of 16 years.
“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”, said Jehangir Vevaina, CIO for Brookfield’s Renewable Power & Transition group.
The company, subject to regulatory approvals, is expected to launch by the second quarter this year.
