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Be the first with the news that moves the market- SNC-Lavalin (SNC) announced that Shoreline Power Group has signed a 10-year, $1.3 billion agreement with Bruce Power
- Shoreline Power Group is a contractual joint venture between SNC-Lavalin, Aecon, and United Engineers & Constructors
- The mandate is to extend the life of four of Bruce Power’s CANDU reactors to 2064
- The Bruce Nuclear Generating Station is the world’s largest operating nuclear facility, producing 30 per cent of Ontario’s power
- Based in Montreal, SNC-Lavalin is a fully integrated professional services and project management firm
- SNC-Lavalin Group Inc. (SNC) is down 1.14 per cent, trading at C$32.97 per share at 11:46 am ET
SNC-Lavalin (SNC) announced that Shoreline Power Group has signed a 10-year, $1.3 billion agreement with Bruce Power.
Shoreline Power Group is a contractual joint venture between SNC-Lavalin, Aecon, and United Engineers & Constructors.
The mandate is to extend the life of four of Bruce Power’s CANDU reactors to 2064. SNC-Lavalin’s portion of the contract is valued at approximately $173 million.
SNC-Lavalin’s Canadian nuclear division will provide project management services associated with the reactor refurbishment of Units 4, 5, 7 and 8. These are the remaining units at Bruce Power that have yet to undergo a life-extension process.
Shoreline Power Group has worked on the successful life-extension of Bruce Power’s Unit 6, which is being returned to service later in 2023. Its work on the refurbishment of Bruce Power’s Unit 3 remains ongoing, having begun in 2022. Bruce Power’s Units 1 and 2 were refurbished in 2012.
About Bruce Power
The Bruce Nuclear Generating Station is the world’s largest operating nuclear facility, producing 30 per cent of Ontario’s power. It also provides a significant amount of cancer-fighting medical isotopes for hospitals globally.
The life-extensions of Bruce Power’s reactors represent Ontario’s largest clean-energy infrastructure project. It directly and indirectly supports 22,000 jobs annually, and injects $4 billion into the province’s economy.
The scope of work for the latest agreement includes the overhaul of the core reactor components of the CANDU units. The company expects preparatory work to commence in 2023, with completion anticipated in 2032.
About SNC-Lavalin
Based in Montreal, SNC-Lavalin is a fully integrated professional services and project management firm. It offers a wide range of services, including financing, consulting, engineering and construction, procurement, and operations and maintenance.
SNC-Lavalin has over 70 years’ of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. It solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management.
SNC-Lavalin Group Inc. (SNC) is down 1.14 per cent, trading at C$32.97 per share at 11:46 am ET.
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