Deals Counterparts

Pickering Nuclear Station Upgrade

Development Nuclear announced Toronto, Canada Jan 12, 2026
USD19750M
Deal Value
2.1 GW
Capacity
development
Stage
Pickering nuclear station Upgrade
Project

Ontario Power Generation received approval to upgrade the Pickering nuclear station, including replacing steam generators and constructing a deep-water intake system.

Source Intelligence

KEY DETAILS

The project includes replacement of all 48 steam generators and construction of a 1.5-km deep-water intake system. Quote: "The estimated $19.75-billion project, also awarded to Aecon-ArkinsRealis as EPC contractor set to begin work in 2027, includes replacement of all 48 steam generators, which Ontario Power Generation says is a first-of-its-kind work scope for its Candu reactor fleet. The project also includes construction of a 1.5-km deep-water intake system to secure colder cooling water, described as an infrastructure element not in the original plant design."

Deal Size
The estimated $19.75-billion project, also awarded to Aecon-ArkinsRealis as EPC contractor set to begin work in 2027, includes replacement of all 48 steam generators, which Ontario Power Generation says is a first-of-its-kind work scope for its Candu reactor fleet.
Capacity
four nuclear power units totaling about 2.1 GW and expanding their capacity to about 2.2 GW
Location
Last November, Ontario's provincial government also gave the agency formal approval to begin upgrading at the Pickering nuclear station, also near Toronto, four nuclear power units totaling about 2.1 GW and expanding their capacity to about 2.2 GW.
PPA Details
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Financials
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Announcement
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Signing
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COD
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Expected Close
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PARTIES MENTIONED IN SOURCE
O
Ontario Power Generation developer

"Last November, Ontario's provincial government also gave the agency formal approval to begin upgrading at the Pickering nuclear station, also near Toronto, four nuclear power units totaling about 2.1 GW and expanding their capacity to about 2.2 GW."

A
Aecon-ArkinsRealis EPC contractor

"The estimated $19.75-billion project, also awarded to Aecon-ArkinsRealis as EPC contractor set to begin work in 2027, includes replacement of all 48 steam generators, which Ontario Power Generation says is a first-of-its-kind work scope for its Candu reactor fleet."

high quality Enriched Feb 19, 2026

Timeline

Announced
Jan 12, 2026
Signed
Closed

Market Context

This deal is part of the Nuclear sector in Canada.
64
Nuclear deals
78
deals in Canada
1 of 63 Nuclear deals tracked this month · Updated daily

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