- Business
- Synex Renewable Energy Corporation Synex Renewable Energy Corporation (TSX: SXI.TO), a Canadian independent power producer founded in 1981 and headquartered in Niagara Falls, British Columbia, develops, owns, and operates renewable energy facilities; provides engineering services for water control, including hydroelectric and power generation facility design, hydrology studies, river engineering, and environmental services; and offers consulting engineering, civil engineering, and electrical power distribution management. Through its wholly owned subsidiaries Synex Energy Resources Ltd. and Sigma Engineering Ltd., the company owns and operates three hydroelectric plants on Vancouver Island—Mears Creek (100% ownership), Cypress Creek (100%), and Barr Creek (80%)—with a combined capacity of 11 megawatts, plus minority stakes in China Creek Hydro (12.5%, 6.5 megawatts) and Ptarmigan Creek Hydro (11%, 3.3 megawatts); it also pursues development of Newcastle Creek and McKelvie Creek projects totaling 9.5 megawatts and holds tenures for over 50 potential sites across British Columbia. The company focuses on the utilities-renewable energy sector, serving utilities and industrial customers primarily in Canada with operations concentrated in British Columbia. In 2022, Synex changed its name from Synex International Inc. to emphasize its renewable focus; more recently, in August 2025, Sitka Power Inc. completed its acquisition of Synex for C$2.40 per share in an all-cash deal valued at approximately C$25.2 million, integrating Synex's operational hydroelectric and solar assets, development pipeline, and British Columbia grid infrastructure into Sitka's platform amid sector consolidation.