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The collaboration could generate C$28.7bn in GDP from a four-unit AP1000 project in Canada.
Westinghouse Electric Company and Aecon have signed two collaborative agreements to develop and deploy advanced nuclear new-build projects in Canada and worldwide.
The companies will jointly pursue opportunities to construct AP1000 power plants across Canadian markets under a strategic cooperation agreement. The collaboration is set to generate up to C$28.7bn ($20.1bn) in GDP from a four-unit AP1000 project in Canada.
A memorandum of understanding (MoU) enables Aecon to leverage its experience from previous AP1000 projects, such as Vogtle, to expand the supply of crucial components for AP1000 and advanced nuclear reactors in Canada and abroad.
Ontario Minister of Energy and Electrification Stephen Lecce stated: “Nuclear energy is essential to powering Ontario’s future, providing unmatched reliability, affordability and carbon-free energy to meet soaring energy demands.
“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.”
The announcement marks the continuation of Westinghouse’s strategy to form alliances with Canadian companies, fostering expansion and diversification by promoting its advanced nuclear technologies internationally.
For every AP1000 unit constructed outside Canada, Westinghouse estimates that C$1bn in GDP could be generated through local Canadian suppliers.
Westinghouse, owned by Brookfield and Cameco, stands as the sole nuclear vendor with operational Generation III+ reactor technology ready for deployment in Canada, with the potential to begin generating electricity by 2035.
With six AP1000 reactors already operational worldwide, the technology has set records for performance and availability. The AP1000 design has been chosen for nuclear energy programmes in Poland, Ukraine and Bulgaria and is under consideration in Central and Eastern Europe, the UK, India and North America.
It is anticipated that there will be 18 AP1000 technology-based units in operation globally by 2030.
Westinghouse Energy Systems president Dan Lipman stated: “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.
“For each four-unit AP1000 project Westinghouse builds in Canada, we expect to create 8,000 Canadian jobs during construction and another 12,000 full-time jobs for ongoing operations.”
In December 2024, Westinghouse signed an agreement with BWXT Canada to collaborate on nuclear new-build projects in Canada and globally. |
