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Be the first with the news that moves the market- Aecon Group Inc. (ARE) has partnered with GE Hitachi and SNC-Lavalin Group Inc. (SNC) for an agreement with Ontario Power Generation (OPG)
- The agreement is for a grid-scale small modular reactor (SMR) through the Darlington New Nuclear Project in Ontario
- The Darlington SMR will be a GE Hitachi BWRX-300 reactor, a new class of nuclear reactors that provide up to 300 megawatts of electric power
- Aecon Group Inc. (ARE) is up 1.22 per cent trading at $11.63 per share as of 12:42 p.m. EST
- SNC-Lavalin Group Inc. (SNC) is up 0.50 per cent trading at $28.20 per share as of 12:44 p.m. EST
Aecon Group (ARE) has partnered with GE Hitachi and SNC-Lavalin Group (SNC) to implement a six-year agreement with Ontario Power Generation (OPG).
The alliance is for the development of a grid-scale small modular reactor (SMR) through the Darlington New Nuclear Project in Ontario.
The Darlington SMR will be a GE Hitachi BWRX-300 reactor, a new class of nuclear reactors that provide up to 300 megawatts of electric power. They have been designed to reduce construction costs compared to traditional nuclear-generating stations.
OPG is the license holder and will maintain overall responsibility for the project, Hitachi is the technology developer responsible for the design, and procurement of major components, engineering and support, and SNC-Lavalin is the project’s architect and engineer. Aecon will provide all the construction services.
Jean-Louis Servranckx, President and CEO of Aecon, commented,
“As the preeminent nuclear constructor in Canada, Aecon is proud to bring our proven, full spectrum of expertise to deliver this exciting new nuclear build – leading the way in deploying the next generation of plants and guaranteeing the production of clean, reliable and affordable electricity in Ontario.”
The companies have already begun the site’s preparation, and related work is currently underway SMR construction is expected to be completed in the fourth quarter of 2028.
Aecon Group Inc. (ARE) is up 1.22 per cent, trading at $11.63 per share as of 12:42 p.m. EST.
SNC-Lavalin Group Inc. (SNC) is up 0.50 per cent, trading at $28.20 per share as of 12:44 p.m. EST.
