Aecon teams win C$3 billion of Pickering nuclear refurbishment contracts

On 21 September 2026, Aecon Group said its 50/50 joint venture with AtkinsRéalis and its consortium with Siemens Energy had been awarded contracts by Ontario Power Generation (OPG) for the Pickering Nuclear Generating Station Refurbishment Project, with an aggregate value of C$3 billion. Aecon put its own share at C$1.75 billion, which it said would be added to its Construction segment backlog in the third quarter of 2026.

The joint venture received a C$1.7 billion contract for the Unit 5 Retube, Feeder and Boiler Replacement, the first unit of that work; AtkinsRéalis described it as a three-year contract. The Aecon and Siemens Energy consortium, in which Aecon holds a majority interest, received a C$1.3 billion Turbine Generator Replacement contract covering 14 new steam turbine rotors, the overhaul of four generators including stator rewinds, new auxiliary systems and a control and monitoring system.

Prerequisite work has begun, and Aecon said project execution is expected to start in January 2027, pending regulatory approval. Similar work on Units 6, 7 and 8 is anticipated in later phases, also pending regulatory approval. The Ontario government said the refurbishment will extend the life of Pickering’s four CANDU reactors by up to 38 years.