OPG signs $1.7B contract for Pickering nuclear plant refurbishment

Candu Energy, an AtkinsRéalis company, in a joint venture with Aecon Group, has signed a three-year, $1.7 billion contract with Ontario Power Generation (OPG) to begin Unit 5 work associated with the Pickering Nuclear Generating Station retube, feeder and boiler replacement project (RFBR). The contract represents the first RFBR unit in the broader refurbishment project, with similar work anticipated on Units 6, 7 and 8 in subsequent phases, all pending regulatory approval.

The agreement covers engineering and design services, project delivery, and program and project management for the planned life-extension of four of Pickering's CANDU reactors, including work that would enable Unit 5 to operate until the 2060s. AtkinsRéalis' share of the contract will be added to its nuclear backlog in the third quarter of 2026. Ian L. Edwards, President and Chief Executive Officer of AtkinsRéalis, said the company brings decades of hands-on experience refurbishing Canadian-owned CANDU reactors in Ontario, with a track record of delivering complex life-extension work safely, reliably, and with discipline for on-time and on-budget performance.

The refurbishment supports Ontario's plan to maintain and increase baseload clean power. In 2024, the Ontario government said it would support OPG's plan to proceed with refurbishing Pickering's "B" units, providing 2,000 MW once work is complete. Ontario's Independent Electricity System Operator forecasts that electricity demand in the province will increase. A life-extension of Pickering's CANDU reactors, to be completed by the mid-2030s pending regulatory approval, would allow the reactors to operate for 30 or more years. This occurs alongside life-extension work at Bruce Power, the recently completed Darlington refurbishment, and planned new nuclear capacity in the province.

What remains unknown is the timing and outcome of regulatory approvals for Units 6, 7 and 8, since the contract covers only Unit 5 and further phases are pending approval. The source does not specify the cost breakdown between Candu Energy and Aecon Group, the exact schedule for Unit 5 completion, or the total projected cost of refurbishing all four units. The dossier also does not provide independent corroboration beyond the single Power Engineering report, so the financial and operational details should be treated as preliminary until confirmed by OPG or regulatory filings.