PETERBOROUGH, Ontario--(BUSINESS WIRE)--Dec 17, 2024--
Westinghouse Electric Company and Aecon announced today the signing of two major agreements creating a collaborative framework for the development and deployment of advanced nuclear new-build projects in Canada and around the world.
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Under a Strategic Cooperation Agreement, Westinghouse and Aecon will work together on opportunities for the construction of AP1000 ® power plants in markets throughout Canada, potentially generating $28.7 billion Canadian dollars in gross domestic product (GDP) for a four-unit AP1000 project. Under a memorandum of understanding (MoU), Aecon can build on its experience of supplying AP1000 modules and nuclear components at Vogtle and other projects to potentially expand the supply of key AP1000 and advanced nuclear reactor components to projects in Canada and abroad.
“Nuclear energy is essential to powering Ontario’s future, providing unmatched reliability, affordability, and carbon-free energy to meet soaring energy demands,” said Stephen Lecce, Minister of Energy and Electrification. “Ontario welcomes strategic partnerships and enhanced collaboration in nuclear to secure our energy needs, create value-added jobs and supply chain benefits in our province as we emerge as a global clean energy leader.”
Headquartered in Ontario, Aecon is a North American construction and infrastructure development company and is a Tier 1 Canadian constructor with significant nuclear experience. Aecon will support Westinghouse’s advanced nuclear technologies to provide a way to quickly deploy significant new nuclear to meet economic, environmental and energy security needs in Canada and globally.
"With extensive nuclear EPC expertise, strong technical knowledge, as well as specialized nuclear fabrication and manufacturing solutions tailored to meet the stringent demands of the North American nuclear power industry, Aecon is at the forefront of delivering nuclear infrastructure,” said Aaron Johnson, Senior Vice President, Aecon Nuclear. “We are proud of our role in advancing the energy transition to help ensure the supply of clean, reliable and affordable electricity for generations to come. We look forward to collaborating with Westinghouse through these framework agreements as we continue supporting our clients in their technology selection and deployment.”
“By partnering with Aecon, we are underscoring our commitment to helping to ensure that nuclear new build projects of all scales will benefit the Canadian economy by employing local trades and creating jobs in Canada,” said Dan Lipman, President of Westinghouse Energy Systems. “For each four-unit AP1000 project Westinghouse builds in Canada, we expect to create nearly 8,000 Canadian jobs during construction and another 12,000 full-time jobs for ongoing operations.”
“With Canada’s urgent need to bring more nuclear generation online to meet its objectives, the proven, fully operational AP1000 reactor becomes the natural choice because it can be deployed now,” said John Gorman, President of Westinghouse Canada. “Today’s agreement with Aecon further strengthens Westinghouse’s construction and supplier relationships across Canada with an experienced AP1000 project partner to ensure it can move quickly to meet the nation’s requirements.”
This announcement is the latest in a series of agreements with Canadian firms that provide opportunities for expansion and diversification by supporting Westinghouse’s advanced nuclear technologies globally. For each AP1000 unit built outside Canada, Westinghouse could generate almost $1 billion of Canadian dollars in GDP through local suppliers.
Owned by Canadian energy powerhouses Brookfield and Cameco, Westinghouse is the only nuclear vendor with a proven, fully operational Generation III+ reactor technology that is ready to be deployed in Canada and generate electricity by as early as 2035. Currently there are six AP1000 reactors in operation globally, setting operational performance and availability records. The AP1000 technology has been selected for nuclear energy programs in Poland, Ukraine and Bulgaria, and is also under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom, India and North America. There will be 18 units based on AP1000 technology in operation globally by the end of the decade.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and X.
Westinghouse and Aecon sign collaborative agreements for advanced nuclear new builds. From left: Greg Thede (Aecon), Thomas Clochard (Aecon), Elias Gedeon (Westinghouse), Kyle Nicholas (Westinghouse), and David Tanel (Westinghouse). (Photo: Business Wire)
