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The latest update is out from NU E Power Corp. ( (TSE:NUE) ).
NU E Power Corp. has entered into a Letter of Intent with Korea-based private equity firm Green Harbor Partners Corp. for the proposed sale and strategic development of its 503.5 MW Alberta portfolio, comprising the Lethbridge Two, Lethbridge Three, and Hanna utility-scale solar projects with integrated storage. Under the LOI, Green Harbor would acquire all equity interests in the projects, while NU E retains the option to keep a royalty or carried interest, enabling it to recycle capital while preserving long-term economic exposure. NU E, which has invested about US$2.6 million to date in these assets, expects to realize between US$50,000 and US$150,000 per MW based on current milestones, with potential upside to US$395,000–US$700,000 per MW if the projects reach shovel-ready status, and consideration paid out in stages tied to development progress and commercial operation. The agreement marks NU E’s first planned asset monetization and a key step in its evolution into a full-fledged power developer, while also laying the groundwork for a broader strategic partnership with Green Harbor to co-develop, finance, and operate large-scale renewable and hybrid projects in Alberta and internationally.
More about NU E Power Corp.
NU E Power Corp. is a Calgary-based power developer focused on utility-scale renewable energy projects, particularly solar generation integrated with battery energy storage systems. The company positions itself as a capital-at-risk developer rather than a passive asset aggregator, advancing late-stage, de-risked renewable and hybrid power assets aimed at institutional buyers in markets such as Alberta and across a broader global pipeline including Latin America, Asia, Europe, and Africa.
Average Trading Volume: 68,764
Technical Sentiment Signal: Buy
Current Market Cap: C$18.06M
Find detailed analytics on NUE stock on TipRanks’ Stock Analysis page.