Third Ontario contract award under the IESO's LT2 procurement in 2026 represents meaningful capital deployment for Sitka's growing Ontario portfolio of clean energy infrastructure, each project held 50% by Indigenous partners.

CALGARY, AB, Aug. 12, 2026 /CNW/ -- Sitka Power Inc. ("Sitka") today announced that the Simcoe Battery Project partnership, in which Sitka is an ownership partner, has executed an Energy Storage Facility Agreement with Ontario's Independent Electricity System Operator ("IESO") to build, own and operate the 150 MW / 1,200 MWh Simcoe Battery Energy Storage System Project (the "Simcoe Battery Project") in Norfolk County, Ontario. Through Sitka's ownership interest in the partnership, the award represents Sitka's third Ontario contract award under the IESO's Long-Term 2 ("LT2") procurement.

Sitka is an ownership partner in the project alongside the Mississaugas of the Credit Business Corporation, Six Nations of the Grand River Development Corporation, NRStor Incorporated and Aecon Concessions. Sitka will contribute to the financing of the project and support its long-term operations and asset management. The Simcoe Battery Project was one of only three projects selected through Window 1 of the IESO's Long-Term 2 Capacity Services Request for Proposals, securing a 20-year capacity contract. Commercial operations are targeted for 2030.

Developed in collaboration with Hydro One, the facility will provide critical energy storage capacity to the Norfolk-Bloomsburg area, delivering electricity when demand is highest. Utilizing existing infrastructure, the project will improve system reliability, help meet increasing energy demand, and contribute to Ontario's long-term clean energy objectives.

Building on LT2 Energy Success in Ontario

The Simcoe Battery Project follows two contract awards under the IESO's LT2 Energy procurement to partnerships in which Sitka holds an ownership interest, for the Timmins Mountjoy Solar and Chatsworth Solar projects, comprising approximately 50 MWdc of solar generation capacity. Timmins Mountjoy Solar is held in partnership with Mattagami First Nation and Flying Post First Nation, and Chatsworth Solar is held in partnership with the Chippewas of Nawash Unceded First Nation and Saugeen First Nation. Each project is held 50% by Indigenous partners.

Cumulatively, the three projects represent more than $400 million of total capital deployment to clean energy infrastructure in the province. Sitka's attributable investment across the three projects represents a meaningful deployment of capital into its growing portfolio of Canadian renewable energy and storage assets.

"The Simcoe Battery Project is closely aligned with Sitka's strategy of partnering with experienced developers and Indigenous partners to own and operate high-quality Canadian energy infrastructure," said Trevor White, President and CEO of Sitka Power Inc. "Combined with our Timmins Mountjoy and Chatsworth solar projects, Sitka, together with our development and Indigenous partners, is helping to advance clean energy infrastructure in Ontario."

About Sitka Power Inc.

Sitka Power Inc. is a Calgary-based renewable energy developer and independent power producer with development and operating activity in British Columbia, Alberta, Saskatchewan and Ontario. Sitka acquires, develops, finances, constructs and operates solar, wind, run-of-river hydro and battery energy storage assets, backed by a private infrastructure fund managed by an affiliate of Long Life Capital Inc. For more information on Sitka's projects, visit www.sitka-power.ca.

About Long Life Capital Inc.

Long Life Capital Inc. is a strategic advisory firm supporting long-term institutional investors to develop and execute on value enhancing strategies and transactions. It manages a dedicated private infrastructure fund backing the Sitka Power platform.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements, including statements about the expected scope, financing, development, construction, commissioning, operation, timing, revenues, benefits, capital costs, ownership interests and portfolio growth related to the Simcoe Battery Project, Timmins Mountjoy Solar project and Chatsworth Solar project. Forward-looking statements may be identified by words such as "expects," "anticipates," "plans," "targets," "intends," "believes," "estimates," "will," "may" or "should," or similar expressions.

These statements are based on assumptions Sitka considers reasonable as of the date of this release, including that the Projects proceed as contemplated; required approvals are obtained and maintained; financing is available on acceptable terms; third parties perform their obligations; and cost, schedule and performance assumptions remain accurate.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including project delays or cancellations; failure to obtain or maintain required approvals; unavailable or unacceptable financing; delayed commercial operations; third-party performance failures; supply chain, equipment, labour and construction cost risks; unrealized revenues, returns or benefits; changes in electricity demand, grid needs or market conditions; and changes in law, regulation or government policy.

Certain project information, including partner interests and roles, has been obtained from third-party sources believed to be reliable but not independently verified by Sitka. Sitka disclaims responsibility for such information. Forward-looking statements speak only as of their date, and Sitka undertakes no obligation to update them except as required by law.

SOURCE Sitka Power Inc.