Aecon Group (AEGXF) announced that a joint venture between Aecon and AtkinsRealis (SNCAF) has been awarded a collaborative contract by Ontario Power Generation which includes the definition phase work for the retube, feeder and boiler replacement of Units 5, 6, 7 and 8 at the Pickering Nuclear Generating Station in Ontario. Aecon holds a 50% interest in the joint venture and its share of the approximately $1.1B early works portion of the contract was added to its Construction segment backlog in the fourth quarter of 2024. The remaining portion of the contract is valued at approximately $1B, and Aecon will add its share to backlog in the first quarter of 2025. The scope of work is for definition phase activities including engineering, procurement of long-lead components, and construction planning for the multi-unit refurbishment. Planning and early works are underway, and completion of this phase is expected in 2026.
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