Law Firm Withers has helped Japan’s Mitsubishi HC Capital buy a big share of renewable energy projects worth EUR 400 million (about USD 460 million). The deal was made through a new joint venture set up with Brookfield Asset Management, a large investment company. The joint venture is called MHBF Renewable Holdings, and both companies own half of it each. It will hold solar and wind energy projects that are already up and running in Spain, France, Ireland, Sweden and the UK.
To make this work, the assets had to be transferred into the new joint venture. The deal also needed a setup spanning several countries, with one main holding company based in the UK and smaller companies created for each country involved. Withers helped with every part of the deal. This included planning how the deal should be structured, checking due diligence reports from each country and negotiating important documents like the shareholders’ agreement and the main purchase agreement. The firm also worked on tax papers, service agreements, funding papers and insurance covering any hidden risks in the deal.
Kazumitsu Goto, one of the partners leading the deal, said the firm is now helping Mitsubishi. HC Capital get regulatory approvals, such as merger and foreign investment clearances, before the company can officially invest in the new venture and its projects. Ean MacPherson, another partner on the deal, said the biggest challenge was dealing with so many different countries at once. Each location had its own legal, tax and energy rules, so the team had to design a structure that worked well for every project while still fitting together as one whole plan.
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The EUR 400 million is just the first investment. More money will follow later to buy additional renewable projects. Mitsubishi HC Capital said the joint venture could also expand into Australia in the future. The new venture is expected to fully launch in the second half of 2026, once all approvals are complete.
