TORONTO, Jan. 27,
2023 /CNW/ - Aecon Group Inc. (TSX: ARE) announced
today that a partnership between Aecon, GE Hitachi and SNC-Lavalin
has executed a six-year alliance agreement with Ontario Power
Generation (OPG) to deliver North
America's first grid-scale Small Modular Reactor (SMR)
through the Darlington New Nuclear Project (DNNP) in Clarington, Ontario.
Under an Integrated Project Delivery (IPD) model, OPG serves as
the license holder and will maintain overall responsibility for the
project, including operator training, commissioning, Indigenous
engagement, stakeholder outreach and oversight. GE Hitachi is the
technology developer responsible for design, procurement of major
components, engineering and support. SNC-Lavalin is the architect
and engineer providing design, engineering and procurement support.
Aecon is the provider of all construction services, including
project management, construction planning and execution. Site
preparation and related work is currently underway and SMR
construction is expected to reach completion in the fourth quarter
of 2028.
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 – enough to supply over 300,000 homes – and have
been designed to reduce construction costs compared to traditional
nuclear generating stations.
"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," said
Jean-Louis Servranckx, President and
Chief Executive Officer, Aecon Group Inc. "Nuclear power and SMRs
are integral to Aecon's growth strategy and will play a significant
role in advancing global progress towards achieving sustainability
targets and a net-zero economy by 2050."
"This project provides an opportunity to utilize our unique
multidisciplinary expertise across Aecon's diverse operating
sectors to perform new nuclear construction work safely and with an
unwavering commitment to quality, schedule and cost performance,"
said Thomas Clochard, Executive Vice President, Nuclear and Civil,
Aecon Group Inc. "We look forward to working with our partners to
deliver this project while strengthening our long-term relationship
with OPG."
Aecon is also the leading constructor for the two largest
nuclear refurbishment projects in Ontario, including the Retube and Feeder
Replacement project at the Darlington Nuclear Generating Station,
and the Steam Generator Replacement and Fuel Channel and Feeder
Replacement projects at the Bruce Nuclear Generating Station.
"Working with these three companies, OPG is leveraging decades
of nuclear energy and large project experience to deliver
much-needed new electricity generation to Ontarians," said
Ken Hartwick, President and Chief
Executive Officer, OPG. "Electricity produced by the Darlington SMR
will help ensure we meet Ontario's
growing energy needs as electrification and a growing economy drive
demand."
Join our Team
Be a part of this exciting new nuclear build project. Aecon is
currently recruiting for a diverse range of roles to work on some
of the most transformative projects across Canada. As a first-choice employer, we're
looking for talented and diverse individuals to build what matters
and help future generations thrive. Apply
today: aecon.com/careers
About Aecon
As a Canadian leader in construction and infrastructure
development with global expertise, Aecon Group Inc. (TSX: ARE)
strives to be the number one Canadian infrastructure company and is
proud to be recognized as one of the Best Employers and Best 50
Corporate Citizens in Canada.
Aecon safely, profitably and sustainably delivers integrated
solutions to private and public-sector clients through its
Construction segment in the Civil, Urban Transportation, Nuclear,
Utility and Industrial sectors, and provides project development,
financing, investment and management services through its
Concessions segment. Join our online community on Twitter,
LinkedIn, Facebook, Instagram and TikTok @AeconGroupInc.
Statement on Forward-Looking Information
The information in this press release includes certain
forward-looking statements. These forward-looking statements are
based on currently available competitive, financial and economic
data and operating plans but are subject to risks and
uncertainties. In addition to events beyond Aecon's control, there
are factors which could cause actual or future results, performance
or achievements to differ materially from those expressed or
inferred herein, as discussed in greater detail in Section 13 –
"Risk Factors" in the Management's Discussion and Analysis filed on
March 1, 2022, in respect of the
period ended September 30, 2022, and
filed on October 26, 2022. Except as
required by applicable securities laws, forward-looking statements
speak only as of the date on which they are made and Aecon
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by applicable law
and the forward-looking statements contained herein are expressly
qualified in their entirety by the cautionary statement.
SOURCE Aecon Group Inc.