NU E Power Corp. has entered into an agreement to acquire 500 megawatts (MW) of energy assets from ACT Mid Market Ltd., a developer specialising in hybrid infrastructure for data centres and crypto assets. This transaction brings NU E’s total targeted asset capacity to over 1 gigawatt (GW), marking a major step toward its 2 GW global goal.
A portfolio spanning four continents
The assets included in the transaction comprise five projects located in Canada, Mongolia, Brazil, Nigeria and Malaysia, combining solar energy, natural gas and power grid infrastructure. Among them is the XBASE site in Canada, a 200 MW hybrid project designed to power a smart community integrating housing, energy and data infrastructure. In Mongolia, the Tsegtskharaa site delivers 100 MW of hybrid capacity connected to high-voltage transmission lines and a gas pipeline.
The acquisition also strengthens NU E’s presence in critical data infrastructure across developing markets, with a 100 MW hybrid centre planned in Lagos, Nigeria, aimed at telecom and fintech sectors. A 100 MW solar project is also under co-development with the International Islamic University of Malaysia, integrating graphene-based battery technologies and creating a regional innovation platform.
Strategic positioning in digital infrastructure
With this move, NU E aims to accelerate the deployment of energy solutions in artificial intelligence and Bitcoin mining environments, focusing on 3 to 5 MW facilities to generate short-term cash flow. The company also seeks to secure long-term contracts with mid-market offtakers for sub-50 MW data centre infrastructure.
By integrating ACT’s Bitcoin mining activities and its colocation customer base, NU E plans to build its own BTC reserve, in line with the institutional trend of digital asset diversification. The company is also expanding into emerging markets through development agreements in South America, Asia and Africa.
Financial terms and leadership changes
The agreement includes the issuance of 11 million NU E common shares and 10 million purchase warrants to ACT, with terms spread over five years. A $300,000 cash payment will be made upon the closing of a $1.5mn financing; otherwise, the amount will be compensated in shares. ACT will also have the right to nominate one director to NU E’s board.
Following the transaction, Broderick Gunning will become Chief Executive Officer of NU E and join the board. Frederick Stearman will take over as Chief Technology Officer, while Devon Sandford will remain on the board to support Blu Dot Systems Inc., a NU E subsidiary focused on energy service projects.
