Candu Energy-Aecon JV signs $1.7B contract for Pickering Unit 5 refurbishment

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MONTREAL - A joint venture including Candu Energy Inc. and Aecon Group Inc. have a signed a $1.7-billion contract with Ontario Power Generation for refurbishment work at the Pickering Nuclear Generating Station.

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MONTREAL – A joint venture including Candu Energy Inc. and Aecon Group Inc. have a signed a $1.7-billion contract with Ontario Power Generation for refurbishment work at the Pickering Nuclear Generating Station.

The three-year contract is for Unit 5 at the station and is associated with the retube, feeder and boiler replacement project at the plant.

The agreement covers engineering and design services, project delivery, as well as program and project management associated with the planned life-extension of four of Pickering’s reactors.

The Pickering Nuclear Generating Station, in Pickering, Ont., is seen Sunday, Jan. 12, 2020. THE CANADIAN PRESS/Frank Gunn
The Pickering Nuclear Generating Station, in Pickering, Ont., is seen Sunday, Jan. 12, 2020. THE CANADIAN PRESS/Frank Gunn

The work is expected to allow Unit 5 to operate until the 2060s.

Similar work is anticipated on Units 6, 7 and 8 at the power station in subsequent phases, pending regulatory approval.

Candu Energy is part of AtkinsRéalis Group Inc. which will add its share of the contract to its nuclear backlog in the third quarter.

This report by The Canadian Press was first published Sept. 21, 2026.

Companies in this story: (TSX:ATRL, TSX:ARE)

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