Ontario Construction News staff writer
Bruce Power and Candu Energy Inc. have signed a renewed agreement with $1 billion invested through 2035.
Established in 2015 and set to expire at the end of this year, the MSA supports Bruce Power’s Major Component Replacement program, part of a multi-year refurbishment designed to extend the operational life of its nuclear reactors by 30 to 35 years.
The Life Extension Project represents the largest private-sector investment in Canada’s nuclear industry and generation infrastructure.
“This agreement strengthens our operational and projects capabilities but also supports thousands of high-skilled jobs and drives economic growth in Ontario and across Canada,” Eric Chassard, CEO of Bruce County, Ont.-based electricity company Bruce Power said in a statement.
“We’re proud to deepen our collaboration with Bruce Power,” added Sandy Taylor, CEO of Candu Energy. Candu Energy is the original equipment manufacturer of Canadian-designed CANDU technology, whose intellectual property is owned by the Government of Canada. The eight CANDU reactors at Bruce Power make it one of the world’s largest operating nuclear facilities.
Some of the key aspects of the of the agreement include:
- $1 billion potential spend in Canada over the next decade on Canadian suppliers and a local workforce.
- Enhanced competitiveness by opening opportunities for a broader supplier base.
- Support for Canadian innovation, with continued investment in nuclear expertise and infrastructure.
- A further commitment to support community focused initiatives in the Clean Energy Frontier Region in southwestern Ontario and the Saugeen Ojibway Nation Traditional Territory which the Bruce Power site operates on.
The agreement also introduces updated governance, cybersecurity compliance, and communications protocols to align with industry best practices.
