Aecon-led Joint Venture Secures C$3 Billion in Contracts for Ontario's Pickering Nuclear Refurbishment
A joint venture led by Aecon Group has been awarded contracts totaling approximately C$3 billion to refurbish the Pickering Nuclear Generating Station, one of Canada’s largest nuclear facilities. The project includes two major components: a C$1.7 billion RFBR (Retube, Feeder and Boiler Replacement) contract for Unit 5 and a C$1.3 billion Turbine Generator Replacement contract with Siemens Energy. Aecon will oversee construction services in the latter deal. The refurbishment is expected to extend the operational life of four reactors by up to 38 years while generating significant economic activity, including an estimated 30,500 annual jobs during construction and contributing C$41.6 billion to Canada’s GDP over time. Major work will begin in early 2027 after regulatory approval is secured. Aecon CEO Jean-Louis Servranckx emphasized the project's importance for Ontario’s clean energy future, highlighting Aecon’s extensive nuclear construction expertise and its role in ensuring a reliable supply of low-carbon electricity.
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Topics: infrastructure_development joint_venture nuclear_energy