Nu E, with the goal of developing up to 2GW of renewable energy projects in Canada by 2030, signed a partnership with Low Carbon SL in March of 2023.

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This first-of-a-kind partnership for Low Carbon SL in North America will facilitate investment in utility-scale Canadian renewable energy projects. The joint venture will help provide long-term stability for investment and open further opportunities for renewables development in Canada that support its net-zero ambitions.

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Under the broad terms of the agreement, Low Carbon SL will fund 100% of the development, construction, and operation of renewable energy projects in Canada, with Nu E having the right to a 25% interest in each of the solar farm projects, the cost of which is covered by the joint venture. Low Carbon SL's intention is, through the joint venture with Nu E, to bring 1GW of PV solar, onshore wind, and battery storage projects in Canada online by the end of the decade. This could represent $1.5bn to $3.0bn in foreign investment to Canada by 2030.