– 150 MW / 1,200 MWh facility to provide critical energy storage capacity –
– ~1 GW of battery energy storage systems built or under delivery by Aecon in Ontario –
TORONTO, July 28, 2026 (GLOBE NEWSWIRE) — Aecon Group Inc. (TSX: ARE) (“Aecon”) announced today that Simcoe Battery Project General Partnership Inc., where Aecon Concessions is an equity partner, has signed an Energy Storage Facility Agreement with Ontario’s Independent Electricity System Operator (“IESO”) to construct, own and operate the 150 MW / 1,200 MWh Simcoe Battery Energy Storage System Project (“Simcoe Battery Project”) in Norfolk County, Ontario.
Aecon Concessions will partner with Six Nations of the Grand River Development Corporation (“SNGRDC”), the Mississaugas of the Credit Business Corporation (“MCBC”), Sitka Power Inc., and NRStor as ownership partners. They will provide electricity storage services to the IESO through a 20-year agreement and will receive capacity payments from IESO for those services. Additional revenue will come from energy sold into the Ontario electricity grid and ancillary services. Aecon will also be the exclusive Engineering, Procurement and Construction (“EPC”) provider for other plant works, with an EPC agreement expected to be finalized soon. The aim is to start commercial operations by 2030.
“The Simcoe Battery Project will strengthen grid reliability and support renewable generation integration – helping establish a strong energy foundation and essential storage capacity needed for economic growth while meeting Ontario’s rising electricity demand,” said Steve Nackan, Executive Vice President and President of Aecon Concessions. “As a diverse development, construction, and investment partner, Aecon focuses strategically on opportunities across North America related to power infrastructure, energy storage, grid expansion, and resilience. Our involvement throughout this project lifecycle illustrates our One Aecon approach – leveraging expertise from our various operating sectors while turning core development and construction skills into lasting concession opportunities.”
Get the latest news
delivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy. The Simcoe Battery Project builds on Aecon Concessions’ ownership interest in the Oneida Energy Storage Project in Ontario which has been running successfully since May 2025. This project was developed by Aecon along with SNGRDC, MCBC, NRStor, Northland Power, alongside their construction partner Aecon-Six Nations (“A6N”), a specially formed team prioritizing Indigenous partnership. Aecon stands out as a leader in Canada’s power generation and battery storage industry thanks to its diverse expertise across North America in power infrastructure. With its completed projects as well as ongoing work like the Simcoe Battery Project, they account for roughly 1 GW of projects either delivered or planned in Ontario. Besides Oneida Energy Storage Project; other related work includes completed facilities such as York Battery Energy Storage System (“BESS”) and Goreway BESS along with ongoing projects like South March BESS and Trail Road BESS. About Aecon Aecon Group Inc. (TSX: ARE) is a construction company focused on infrastructure development across North America with global experience. They provide integrated solutions for both private- sector clients through their Construction segment covering Civil Engineering, Urban Transportation Nuclear Utilities , and Industrial sectors while offering project development financing management operations maintenance services via their Concessions segment. Connect online on X , Linked In Facebook Instagram @Aecon Group Inc. For further information: Adam Borgatti SVP , Corporate Development Investor Relations 416-297-2600 [email protected] Nicole Court Vice President , Corporate Affairs Communications 416-297-2600 [email protected] Statement Forward-Looking Information : The information found within this press release contains certain forward-looking statements that may qualify as forward-looking information under applicable securities laws. These statements are based on currently available competitive financial data operating plans but are subject risks uncertainties. Forward-looking statements can include without limitation statements concerning operations business financial condition projected financial results performance prospects ongoing objectives strategies outlook concerning AECon including expectations regarding scope execution delivery phases project timing various phases completion anticipated receipt capacity payments additional revenues generated energy operational reserve services benefits reliability renewable integration electricity system continued growth AECon’s power infrastructure energy storage concession development business. Statements may sometimes identified terms “may ” “will ” “expects ” “target ” “future ” “plans ”“believes” “anticipates” “estimates” “projects” “intends” “should” negative terms similar expressions. Beyond events beyond control there factors could actual future results performance achievements differ materially from expressed inferred herein including but not limited risk unable finalize EPC agreement expected ; risk project does not proceed delayed anticipated timeline ; risk unable commence commercial operations scheduled ; risks associated failure third party perform ; risk unable obtain maintain satisfy required permits approvals agreements regulatory authorizations ; risk meet contractual schedules performance requirements ; risk able labour needs reasonable costs ; address supply chain equipment procurement challenges; anticipated revenues economic returns benefits fully realized; demand renewable development expansion market conditions materialize expected; inability execute development commissioning operation plan. These forward looking assumptions based variety including but not limited whether proceeds contemplated agreements obtained timely basis partners third parties fulfill obligations none risks identified above materialize assumed based available including received third-party sources. While believes reliable information verified validity accuracy underlying assumptions contained such source disclaims responsibility liability respect any obtained sources. Risk factors discussed greater detail Section – Risks Ai section Management Discussion Analysis fiscal year ended December each filed SEDAR+ ( www. sedarplus. ca ) Except required applicable laws speak only date made undertakes obligation publicly update revise statement result new events otherwise.
Source link
delivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy. The Simcoe Battery Project builds on Aecon Concessions’ ownership interest in the Oneida Energy Storage Project in Ontario which has been running successfully since May 2025. This project was developed by Aecon along with SNGRDC, MCBC, NRStor, Northland Power, alongside their construction partner Aecon-Six Nations (“A6N”), a specially formed team prioritizing Indigenous partnership. Aecon stands out as a leader in Canada’s power generation and battery storage industry thanks to its diverse expertise across North America in power infrastructure. With its completed projects as well as ongoing work like the Simcoe Battery Project, they account for roughly 1 GW of projects either delivered or planned in Ontario. Besides Oneida Energy Storage Project; other related work includes completed facilities such as York Battery Energy Storage System (“BESS”) and Goreway BESS along with ongoing projects like South March BESS and Trail Road BESS. About Aecon Aecon Group Inc. (TSX: ARE) is a construction company focused on infrastructure development across North America with global experience. They provide integrated solutions for both private- sector clients through their Construction segment covering Civil Engineering, Urban Transportation Nuclear Utilities , and Industrial sectors while offering project development financing management operations maintenance services via their Concessions segment. Connect online on X , Linked In Facebook Instagram @Aecon Group Inc. For further information: Adam Borgatti SVP , Corporate Development Investor Relations 416-297-2600 [email protected] Nicole Court Vice President , Corporate Affairs Communications 416-297-2600 [email protected] Statement Forward-Looking Information : The information found within this press release contains certain forward-looking statements that may qualify as forward-looking information under applicable securities laws. These statements are based on currently available competitive financial data operating plans but are subject risks uncertainties. Forward-looking statements can include without limitation statements concerning operations business financial condition projected financial results performance prospects ongoing objectives strategies outlook concerning AECon including expectations regarding scope execution delivery phases project timing various phases completion anticipated receipt capacity payments additional revenues generated energy operational reserve services benefits reliability renewable integration electricity system continued growth AECon’s power infrastructure energy storage concession development business. Statements may sometimes identified terms “may ” “will ” “expects ” “target ” “future ” “plans ”“believes” “anticipates” “estimates” “projects” “intends” “should” negative terms similar expressions. Beyond events beyond control there factors could actual future results performance achievements differ materially from expressed inferred herein including but not limited risk unable finalize EPC agreement expected ; risk project does not proceed delayed anticipated timeline ; risk unable commence commercial operations scheduled ; risks associated failure third party perform ; risk unable obtain maintain satisfy required permits approvals agreements regulatory authorizations ; risk meet contractual schedules performance requirements ; risk able labour needs reasonable costs ; address supply chain equipment procurement challenges; anticipated revenues economic returns benefits fully realized; demand renewable development expansion market conditions materialize expected; inability execute development commissioning operation plan. These forward looking assumptions based variety including but not limited whether proceeds contemplated agreements obtained timely basis partners third parties fulfill obligations none risks identified above materialize assumed based available including received third-party sources. While believes reliable information verified validity accuracy underlying assumptions contained such source disclaims responsibility liability respect any obtained sources. Risk factors discussed greater detail Section – Risks Ai section Management Discussion Analysis fiscal year ended December each filed SEDAR+ ( www. sedarplus. ca ) Except required applicable laws speak only date made undertakes obligation publicly update revise statement result new events otherwise.
Source link
