NU E Power Corp has signed a Letter of Intent to sell a Canadian solar and storage portfolio to Green Harbor Partners, covering the Lethbridge Two, Lethbridge Three, and Hanna projects in Alberta. The transaction is structured as an equity sale, conditional on development milestones, financing, and regulatory approvals.

The key insight is structural: NU E Power is monetizing development risk while preserving upside. With just ~$2.6 million invested to date, or roughly $5,150 per MW, the company has secured the right to exit at multiple stages while retaining options for royalties or carried interest post-sale.

Pricing escalates with execution. Current milestones support proceeds of $50,000–$150,000 per MW, while shovel-ready valuation could reach $395,000–$700,000 per MW. Payments are staged—10% at signing, 50% at closing, 30% at construction start, and a final 10% at COD—shifting risk forward to capital that can carry it.

The asset base totals 503.5 MWac of utility-scale solar with ~100 MW of integrated BESS. Two projects are already AUC-approved, with CODs ranging from 2026 to 2028, and all sites have secured land control and advancing interconnection.

This deal signals a clear market behavior: developers are favoring flexible exits that convert early-stage capital into liquidity, without forfeiting participation in long-term cash flows once projects are de-risked.

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