Author: Power Peak Digest Team Pub Date: December 19, 2024
Westinghouse Electric Company and Aecon have signed two agreements to jointly develop and deploy advanced nuclear power projects, including the construction of AP1000 reactors in Canada. The collaboration is projected to generate up to C$28.7 billion ($20.1 billion) in GDP from a four-unit AP1000 project in Canada.
Under a strategic cooperation agreement, the companies aim to target Canadian markets and expand the supply of critical components for advanced nuclear reactors globally. Aecon will leverage its experience from previous AP1000 projects, such as Vogtle, to support the supply chain for nuclear projects in Canada and abroad.
Ontario Minister of Energy Stephen Lecce emphasized the importance of nuclear energy for the province’s future energy needs, highlighting its reliability, affordability, and carbon-free benefits. Westinghouse’s partnership with Canadian companies supports the goal of becoming a global leader in clean energy, with Westinghouse estimating C$1 billion in GDP generation for every AP1000 unit constructed outside Canada, driven by local Canadian suppliers.
Westinghouse, owned by Brookfield and Cameco, is the only nuclear vendor offering operational Generation III+ reactor technology in Canada, with the potential to begin electricity generation by 2035. With 18 AP1000 units expected globally by 2030, Westinghouse’s technology has been selected for projects in Poland, Ukraine, Bulgaria, and under consideration in other regions.
The partnership is anticipated to create 8,000 jobs during construction for every four-unit AP1000 project and 12,000 full-time jobs for ongoing operations in Canada.