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Capital Power Corporation (TSX: CPX,OTC:CPXWF) ("Capital Power") is pleased to announce that its 120-MW York Battery Energy Storage System ("BESS") and 50-MW Goreway BESS projects ("the projects") have successfully achieved commercial operations. A leader of Ontario's BESS development, Capital Power delivered both projects on time, under budget and with an excellent safety record. Combined, both projects will add roughly $35 million in contracted annual EBITDA for over 20 years. The projects are contracted until 2047 with the Ontario IESO (part of their Expedited Long-Term 1 RFP process).
"We're proud to deliver our first-ever battery storage projects. These facilities enhance our portfolio of flexible generation sources that provide grid stability, support the integration of renewable resources, and meet the province's unprecedented, growing demand for electricity," said Jason Comandante, Senior Vice President, Head of Canada. "Grids that strike a balance of being reliable, affordable, and lower-carbon are the foundation of our economy – they serve existing customers and facilitate economic growth."
"Ontario launched the largest energy procurement in provincial history, with one goal: keep power affordable and always reliable for families. I am encouraged to see companies like Capital Power rising to the challenge and expanding their presence in our province as we launch the York and Goreway Battery Energy Storage Systems," said Hon. Stephen Lecce, Minister of Energy and Mines. "These investments will help deliver affordable, reliable, and clean electricity that supports families, farms and businesses in the GTA, and beyond."
As utility-scale BESS deployment rapidly expands worldwide, these projects reinforce Capital Power's position as a North American leader in the energy expansion, ensuring people and communities are supported through a reliable and lower-emitting electricity system. Together, the projects will provide up to 170 megawatts of storage to deliver power when Ontarians need it most.
Capital Power worked closely with the City of Brampton, the Township of King, Indigenous Nations, and local residents throughout the planning process, and after nearly 12 months of construction, the completion of these projects reflects the dedication of over 183,000 person-hours of work, a testament to the skilled trades and professionals who made this possible.
Media Resources
Media are welcome to use the following photos when reporting on the York BESS project. Other uses require written permission from Capital Power – please contact basmith@capitalpower.com for more information or to arrange an interview.
Capital Power York Energy Centre Team proudly showcases new BESS facility
Capital Power's first-ever Battery Energy Storage projects (York BESS in the Township of King pictured)
York BESS project tour
Stephen Lecce, Minister of Energy and Mines, Steve Pellegrini, Mayor of the Township of King, Avia Eek, Councillor, Ward 6, and David Smith, MPP (not pictured) join the York BESS project tour
Territorial Acknowledgement
In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power's head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 Territory and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities located in these areas and whose presence continues to enrich the community.
About Capital Power
Capital Power (TSX: CPX,OTC:CPXWF) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future. We are Powering Change by Changing Power™.
For more information, please contact :
| Media Relations : Brittany Smith (780) 392-5113 basmith@capitalpower.com | Investor Relations: Roy Arthur (403) 736-3315 investor@capitalpower.com |
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a7f9d64f-6487-411e-97f0-b1144539585e
https://www.globenewswire.com/NewsRoom/AttachmentNg/16980d84-dd3e-4361-956c-ed43507d35d2
https://www.globenewswire.com/NewsRoom/AttachmentNg/260475b9-18fa-4ccf-bd38-523c1ea5d045
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb40c518-696f-41ee-8c46-7dd66f12683d
