Ontario Inks CAD 3 Billion Contracts as Pickering Nuclear Refurbishment Begins
Ontario Inks $3B+ in Nuclear Refurbishment Contracts to Secure 2,200 MW of Clean Power and Supercharge Canada's Closed-Loop Uranium Supply Chain

Ontario is cutting a CAD 3 billion (USD 2.1 billion) check to keep one of North America's hardest-working energy workhorses online for another four decades.
As site construction officially kicked off on September 21, 2026, the Province of Ontario announced major contract wins for Ontario Power Generation’s (OPG) Pickering B station. Units 5 through 8 are slated to power down by the end of September, paving the way for full execution phase work to commence in January 2027 upon final regulatory clearance. Once complete, the revamped plant will inject up to 2,200 megawatts of clean, reliable electricity back into the provincial grid.
The heavy lifting of reactor core surgery falls under a CAD 1.7 billion execution phase contract for Retube, Feeder and Boiler Replacement. That massive undertaking went to an equal 50:50 joint venture between Aecon Group Inc. (TSX: ARE) and Candu Energy, a subsidiary of AtkinsRéalis (TSX: ATRL). Their crews will tackle the precise replacement of 1,520 fuel channels, 48 boilers, and surrounding feeder pipes, starting with Unit 5 to extend its operational lifespan clear into the 2060s before rolling those proven execution strategies into Units 6, 7, and 8.




