Sitka Power Completes Synex Renewable Energy Acquisition Canada

Sitka Power Inc. has completed the acquisition of all common shares of Synex Renewable Energy Corporation in an all-cash transaction valued at approximately C$12 million, with each Synex share purchased for C$2.40. The deal received all necessary regulatory, shareholder, and court approvals, including from the British Columbia Utilities Commission, the Province of British Columbia, and the British Columbia Hydro and Power Authority, with the acquisition expected to finalize around August 1, 2025. This acquisition expands Sitka's asset base in British Columbia and includes Synex's portfolio of hydroelectric and wind projects totaling significant potential clean power capacity. The transaction reflects a broader trend of consolidation in the renewable energy sector aimed at enhancing market position and operational scale amid growing demand. Synex's shares will be delisted from the Toronto Stock Exchange, and the company will cease public reporting obligations post-acquisition. The deal is seen by investors as a low-risk, liquidity-enhancing event that underscores the strategic alignment of public interests with private-sector renewable energy development.