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SNC-Lavalin Joint Venture Continues to Secure Ontario's Clean Energy Supply with $1.3 Billion CANDU Refurbishment at Bruce Power
SNC-Lavalin Joint Venture Continues to Secure Ontario's Clean Energy Supply with $1.3 Billion CAN...
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[{"type":"text","content":"\n \n \n \n SNC-Lavalin Joint Venture Continues to Secure Ontario's Clean Energy Supply with $1.3 Billion CANDU Refurbishment at Bruce Power\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n May 12, 2023\n \n \n /CNW/ - SNC-Lavalin Nuclear Inc., a member of the SNC-Lavalin Group (TSX: SNC), announces Shoreline Power Group, a contractual joint venture between SNC-Lavalin, Aecon, and United Engineers & Constructors, has signed a 10-year,\n \n $1.3 billion\n \n agreement with Bruce Power. 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\n \n $173 million\n \n . SNC-Lavalin's Canadian nuclear division will provide project management services associated with the reactor refurbishment of Units 4, 5, 7 and 8, the remaining units at Bruce Power that have yet to undergo a life-extension process.\n \n \n \"The critical role of nuclear power in providing energy security, meeting the ever-increasing demand for electricity and a means to achieving global Net Zero commitments is no longer in dispute,\" said\n \n Ian L. Edwards\n \n , President and Chief Executive Officer, SNC-Lavalin. \"Large reactors in particular will play a key role in providing the vast amount of electricity required in the future.  As the steward of the CANDU reactor technology around the world, and a provider of the full lifecycle of nuclear services, we are well positioned to capitalize on the rising demand for nuclear energy.\"\n \n \n 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, after an on-time and on-budget refurbishment; while 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. The life-extensions of Bruce Power's reactors represent\n \n Ontario's\n \n largest clean-energy infrastructure project. It directly and indirectly supports 22,...