Sitka Power has acquired a portfolio of renewable electricity generation and battery energy storage assets from Saturn Power in Canada.
The transaction involved acquiring Saturn Power’s limited partnership units and general partnership shares in specific limited partnership entities.
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These partnerships possess and manage 39MW of wind, solar and battery storage assets situated in Ontario and Saskatchewan.
The electricity produced by these assets is sold through long-term agreements to financially reliable partners, ensuring Sitka Power receives stable cash flows over an extended period.
Sitka Power president and CEO Trevor White emphasised the strategic alignment of the acquisition with the company’s goals.
“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,” stated White.
This acquisition represents a major milestone for Sitka Power, being its inaugural transaction since the company’s establishment in November 2024.
The company intends to continue its growth by purchasing operational wind, solar, run-of-river hydro and battery energy storage assets, in addition to developing new renewable energy projects throughout Canada.
Sitka Power is supported by a specialised private infrastructure fund managed by an associate of Long Life Capital.
Saturn Power president Douglas Wagner stated: “The team at Sitka Power is an experienced owner and operator of renewable electricity and battery storage assets. We are confident that these projects will continue to thrive under their stewardship, delivering value to stakeholders.”
Sitka Power is a Canadian renewable energy developer and independent power producer, based in Calgary, Alberta. It operates in British Columbia, Alberta, Saskatchewan and Ontario.
