Power Sustainable, the sustainability-focused alternative asset manager of Canada’s Power Corporation of Canada, is selling a 138-megawatt (MW) portfolio of operating community solar assets, three sources familiar with the situation said.

Marathon Capital and National Bank of Canada Capital Markets are acting as sellside financial co-advisors, the sources said.

The sale process – codenamed ‘Project Nemo’- launched earlier this month, two of the sources said. Power Sustainable is targeting a close by the end of June, the third source added.

The assets were developed and are operated by Power Sustainable’s subsidiaries Nautilus Solar and Potentia Renewables, the three sources said.

The portfolio includes 38 sites across five US states, according to the three sources. It comprises 42 MW in both Minnesota and New York, 21 MW in Maryland, 20 MW in Rhode Island, and 13 MW in Colorado, the sources added.

Power Sustainable had CAD 4bn (USD 3bn) in assets under management at the end of March 2025.

Marathon declined to comment. Power Sustainable and NBC did not respond to requests for comment.