Sitka Power Inc. Expands Renewable Energy Portfolio with Acquisition
Sitka Power Inc. Enhances its Asset Portfolio
In an exciting development for the renewable energy landscape, Sitka Power Inc. has successfully acquired a significant portfolio of operating renewable electricity generation and battery energy storage assets from Saturn Power Inc. This strategic move not only marks the company’s first transaction since its formation but also positions Sitka Power as a key player in the clean energy sector across Canada.
Details of the Acquisition
The acquisition involved the purchase of Saturn Power's limited partnership units and general partnership shares in certain entities that own and operate approximately 39 megawatts of wind, solar, and battery storage assets. Located primarily in Ontario and Saskatchewan, these projects produce energy that is sold under long-term contracts, ensuring stable and reliable revenue streams for Sitka Power.
CEO's Vision
Trevor White, the President and CEO of Sitka Power, conveyed his enthusiasm regarding the acquisition. He stated, "This acquisition aligns with our strategy to acquire contracted renewable and battery energy storage assets in key Canadian target markets. We are committed to the safe and reliable operations of these assets, providing clean electricity to our customers while contributing to a more sustainable future." This commitment to sustainability is vital as the energy sector increasingly shifts towards greener alternatives.
The Future of Sitka Power Inc.
Following this acquisition, Sitka Power aims to continue its expansion by exploring additional opportunities to acquire operating wind, solar, run-of-river hydro, and battery energy storage assets. Their forward-looking strategy is complemented by plans to develop new renewable energy projects across Canada, demonstrating a strong commitment to enhancing their market presence and contributing to the national energy landscape.
Support from Investment Partners
Notably, Sitka Power is backed by a dedicated private infrastructure fund managed by an affiliate of Long Life Capital Inc. This partnership is expected to facilitate the company's growth and provide the resources necessary to undertake significant projects in the renewable energy sector.
About Sitka Power Inc.
Founded in Calgary, Alberta, Sitka Power is a small-scale Canadian renewable energy developer and independent power producer. The company engages in renewable energy initiatives across multiple provinces including British Columbia, Alberta, Saskatchewan, and Ontario. Their efforts are geared towards creating a sustainable energy future while responsibly managing their asset portfolio.
Contact Information
For further inquiries, interested parties can reach out to:
Trevor White
President and Chief Executive Officer
Sitka Power Inc.
1-866-467-4852
info@sitka-power.ca
Frequently Asked Questions
What is the significance of this acquisition for Sitka Power Inc.?
This acquisition enhances Sitka Power's portfolio and solidifies its position in the Canadian renewable energy market.
How many megawatts of energy generation are included in the acquisition?
The acquisition includes approximately 39 megawatts of wind, solar, and battery storage assets.
Who is the CEO of Sitka Power Inc.?
The current CEO is Trevor White, who is also the President of the company.
When was Sitka Power Inc. founded?
Sitka Power Inc. was formed in November 2024, marking this acquisition as its first significant transaction.
In which provinces does Sitka Power operate?
Sitka Power operates in British Columbia, Alberta, Saskatchewan, and Ontario, focusing on renewable energy projects in these regions.
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