NU E Power LOI to Sell 503.5MW Alberta Solar+Storage

NU E Power Corp. (CSE: NUE) has entered a letter of intent with Green Harbor Partners Corp. for the proposed acquisition and strategic development of the Lethbridge Two, Lethbridge Three, and Hanna Solar projects in Alberta. The combined portfolio represents 503.5 MWac of utility-scale solar generation with integrated battery energy storage systems (BESS).

The LOI contemplates acquisition of all equity interests in the projects, subject to customary development milestones, financing conditions, and regulatory approvals. NU E expects to realize US$50,000 to US$150,000 per MW under currently met LOI conditions, with maximum potential compensation of US$395,000 to US$700,000 per MW at shovel-ready. NU E has invested approximately US$2.6 million to date in the projects (about US$5,150 per MW) and will retain an option to maintain a royalty interest.