OPG to Refurbish Darlington Nuclear Generating Station for $12.9 Billion
Jan 22, 2016
“Refurbishing Darlington is an investment in Ontario, says OPG President and CEO Jeff Lyash. “It’s an investment in clean air, in jobs, innovation, and in lower energy prices. OPG has been preparing for refurbishment since 2009 and we’re ready to deliver the job safely, on time and on budget.”
The Conference Board of Canada estimates every $1 invested in the refurbishment will increase #Ontario GDP by $1.3. According to OPG, the $12.8-billion investment will generate $14.9 billion in economic benefits to Ontario. This includes thousands of construction jobs at Darlington (an average of 8,800 per year) and at some 60 Ontario companies supplying components for the job. Two of these companies include Aecon and SNC-Lavalin Nuclear Inc., which are sharing a $2.75 billion contract to carry out the execution phase of a re-tube and feeder replacement project.
This investment will also preserve about 3,000 jobs as it provides 30-plus years of clean, reliable, base load power at a cost lower than other alternatives considered. The budget is about $1.2 billion less than originally projected by OPG. The price of power from the refurbished station is expected to be between 7 and 8 cents per kilowatt hour. The Ontario Energy Board (OEB) will determine the final rate.
The project is scheduled for completion in 2026.
