Capital Power commissions two energy storage projects

Mr. Jason Comandante reports STRENGTHENING ONTARIO'S GRID: CAPITAL POWER COMMISSIONS TWO BATTERY ENERGY STORAGE PROJECTS Capital Power Corp.'s 120-megawatt York battery energy storage system and 50-megawatt Goreway BESS projects have 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 earnings before interest, taxes, depreciation and amortization for over 20 years. The projects are contracted until 2047 with the Ontario IESO (part of its 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 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. Territorial acknowledgment In the spirit of reconciliation, Capital Power respectfully acknowledges that it operates 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 Metis Nation of Alberta region 4. It acknowledges the diverse indigenous communities located in these areas and whose presence continues to enrich the community. About Capital Power Corp. Capital Power is a growth-oriented power producer with approximately 12 gigawatts of power generation at 32 facilities across North America. It prioritizes safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems and creating balanced solutions for the energy future.