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Provides Ontario with critical capacity as Canada’s largest grid-scale battery energy storage facility in operation.

Toronto, Ontario – May 7, 2025 – The Oneida Energy Storage Project has officially commenced commercial operations, becoming the largest grid-scale battery energy storage facility in operation in Canada and one of the largest globally.


Located in Haldimand County, Ontario, the 250 MW / 1,000 MWh facility has been successfully delivered through a collaborative effort between Northland Power Inc. (“Northland”), Six Nations of the Grand River Development Corporation (“SNGRDC”), NRStor Inc., Aecon Concessions, and the Mississaugas of the Credit River Business Corporation (“MCBC”) as owners of Oneida Energy Storage Limited Partnership (“Oneida LP”). Aecon led the engineering, procurement and construction services for the project alongside Aecon-Six Nations (“A6N”), a general partnership between SNGRDC and Aecon. Northland will oversee operations of the facility.

“Aecon’s dedicated teams played an integral role in achieving this milestone – working in collaboration with our ownership partners while serving as the constructor and harnessing our experienced Aecon-Six Nations general partnership to safely execute this project,” said Jean-Louis Servranckx, President & Chief Executive Officer, Aecon Group Inc. “With the expertise of Aecon’s Construction and Concessions teams, we are delivering and operating critical energy infrastructure.”

With 278 lithium-ion battery units now officially drawing and storing power from Ontario's electricity grid, Oneida LP will receive fixed capacity payments through a 20-year capacity services contract with Ontario’s Independent Electricity System Operator and generate revenue from energy sold into the Ontario electricity grid as well as from providing ancillary services to the system. 

The Oneida Energy Storage facility doubles the amount of energy storage resources on Ontario’s electricity grid from 225 MW to 475 MW – adding critical capacity and grid reliability to support the province’s rising demand for energy driven by electrification, population growth and continued economic investment. Expected to reduce emissions by an estimated 1.2 - 4.1 million tonnes over the life of the project, the facility helps advance Ontario’s ongoing decarbonization efforts.

Originally developed under a 50/50 partnership between SNGRDC and NRStor Inc., the Oneida Energy Storage facility serves as a model for purposeful partnerships, prioritizing Indigenous involvement in the development of clean energy in Canada. A strong example of public-private sector collaboration – the project received significant funding from Natural Resources Canada and the Canada Infrastructure Bank.

At the local level, the project generated more than 180 jobs during construction for Indigenous and Ontario workers, totalling more than 300,000 hours of work. Bringing the strength of its majority Indigenous workforce, over 40 A6N employees worked on the project.

Quotes

“The start of Oneida’s commercial operations is a testament to the power of collaboration, innovation, and community leadership. By integrating advanced energy storage solutions with meaningful Indigenous partnerships, this project enhances Ontario’s clean energy grid and sets a global benchmark for sustainable infrastructure development while furthering our goal of making Canada a clean energy superpower. This is a critical step in delivering the energy capacity to support increasing demand, and technological advancement in the future,” said The Honourable Stephen Lecce, Ontario’s Minister of Energy and Mines.

“Safely and successfully reaching commercial operations on Oneida is a special moment and a significant milestone for Northland, our partners, and for Canada. As a first-of-its-kind project in Canada, Oneida charts the path for future storage projects across the country. Projects like Oneida, that deliver critical stability and capacity to Ontario’s electricity grid, help guarantee a prosperous future for our communities, our businesses and our economy. We are proud to be a part of that,” said Christine Healy, President and Chief Executive Officer, Northland Power.

“Oneida Energy Storage achieving commercial operation is symbolic to us on many levels. As a foundational partner we are especially proud to play a lead role in introducing grid-connected energy storage to the Ontario energy market. Not only does the project create value for Ontario ratepayers and our community, our involvement highlights the importance of Indigenous partnership and inclusion – it exemplifies what can be accomplished together,” said Matt Jamieson, President and Chief Executive Officer, Six Nations of the Grand River Development Corporation.

“Our partnerships-first approach to energy projects with Indigenous Peoples really enabled the Oneida vision to become a reality and also resulted in a true Canadian success story which serves as the model to replicate moving forward. Today is a significant milestone for NRStor, our project partners, the Ontario government, and Canada’s clean energy future,” said Annette Verschuren, Chair and Chief Executive Officer, NRStor Inc.

"The Oneida Energy Storage Project exemplifies the power of Indigenous leadership in shaping Canada's sustainable energy future. By partnering with other stakeholders, we are not only contributing to a cleaner, more resilient energy grid but also ensuring that our community benefits directly through jobs, revenue, and long-term economic growth. This project is a testament to what can be achieved when Indigenous peoples are at the forefront of innovation and collaboration," said Ogiima Kwe Chief Claire Sault, Mississaugas of the Credit First Nation.

"MCBC is proud to be a partner in the Oneida Energy Storage LP. As we mark the commercial operation date of this landmark project, we recognize and celebrate the dedication, vision, and collaboration of our valued partners, government stakeholders, and contractors who helped bring this initiative to life. Our involvement in Oneida Energy Storage is a pivotal step toward fulfilling our strategic objective of long-term wealth generation for the Mississaugas of the Credit First Nation and reflects our commitment to diversifying our economic portfolio and strengthening our footprint in Ontario’s energy sector. By investing in innovative and sustainable energy solutions, we’re not only contributing to a greener, more resilient future for the region, we’re also creating lasting opportunities for future generations of our community. Together, we are advancing energy security, promoting environmental stewardship, and building a foundation for economic self-determination. We look forward to the continued success of the Oneida Energy Storage Project and the positive impact it will have on our Nation,” said Warren Sault, President and Chief Executive Officer, Mississaugas of the Credit Business Corporation.

“The Oneida Energy Storage Project marks a new era in the evolution of our electricity system. Battery storage projects like Oneida provide additional capacity to the grid, supporting the province’s economic growth this decade and beyond. Congratulations to all of the partners who contributed to the success of connecting the first battery energy storage project to the Ontario power system,” said Lesley Gallinger, President and Chief Executive Officer, Independent Electricity System Operator.

“The CIB is a proud partner in Oneida Energy Storage and we congratulate the team on safely commencing operations. The project is a clear demonstration on how the public and private sectors along with First Nations can collaborate on important energy infrastructure while stimulating meaningful economic participation benefiting communities,” said Ehren Cory, Chief Executive Officer, Canada Infrastructure Bank.

About Aecon

Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.  

Statement on Forward-Looking Information

The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the impact of the project on emissions reduction, job creation, local communities and economic growth. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "future," "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions.

In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the risk of not being able to meet performance requirements, the risks associated with a third party’s failure to perform; the risk of not being able to meet its labour needs at reasonable costs; risks regarding a change in the demand for electric energy or population growth; the risk of not being able to accurately assess the risks and opportunities related to the industry’s transition to a lower-carbon economy; the risk of not being able to oversee and, where appropriate, respond to known and unknown environmental and climate change-related risks; the risk of not being able to meet the expected emissions reductions. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, the use of collaborative models and expected results therefrom; infrastructure commitments; there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.

Risk factors are discussed in greater detail in Section 13 - "Risk Factors" in Aecon’s 2024 Management’s Discussion and Analysis for the fiscal year ended December 31, 2024 and Aecon’s Management’s Discussion and Analysis for the fiscal quarter ended March 31, 2025, each filed on SEDAR+ (). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com

Nicole Court
Vice President, Corporate Affairs
416-297-2600
corpaffairs@aecon.com