- AtkinsRéalis (TSX: ATRL) company Candu Energy Inc. has signed a deal to support the ongoing 30-year life extension of the two CANDU reactors in China.
- The agreement with Third Qinshan Nuclear Power Company Ltd. is for reactors at the Qinshan Nuclear Generating Station.
- AtkinsRéalis will provide design, engineering, and procurement services as part of the project.
- Shares of AtkinsRéalis Group Inc. were down 0.07 per cent, trading at C$53.86 at 9:45 am ET Thursday.
AtkinsRéalis (TSX: ATRL) company Candu Energy Inc. has signed a deal with Third Qinshan Nuclear Power Company Ltd. (TQNPC) to support the ongoing 30-year life extension of the two CANDU reactors at the Qinshan Nuclear Generating Station in China.
AtkinsRéalis will provide design, engineering, and procurement services as part of the project for Phase III. According to a news release Thursday, this includes providing sophisticated reactor tooling, training of TQNPC staff, and completing the necessary engineering work to enable the prolonged operation of the plant.
“As a world-class engineering services and nuclear organization, we are at the forefront of projects to transform the world’s infrastructure and energy systems,” Ian L. Edwards, AtkinsRéalis president and chief executive officer, said in a statement. “We are entering a nuclear market super cycle with significant demand to build new reactors, but also to life extend those already in service. AtkinsRéalis is uniquely positioned with the scale, expertise and proven track record to deliver major nuclear projects on time and on budget. It’s a mandate that’s well aligned with our organizational purpose, and our focus on initiatives that enhance the way we are all housed, connected, powered and protected.”
About CANDU technology
Qinshan’s CANDU units began operating between 2002-2003. In 2024, TQNPC set a national record for continuous operation for one of the units for 677 days. During this period, according to TQNPC, the CANDU reactor generated electricity equivalent to 3.5 million tons of coal, achieving more than 9 million tons of carbon emissions reduction.
The reactors are now approaching their scheduled date for component replacement, which will enable a further 30 years of operation. The life extension will utilize the latest technological improvements to expedite the project. This contract follows mandates in 2021 and 2022 for pre-project preparatory work, both of which have now been completed on schedule.
As the sole commercial licensee of the Canadian-owned CANDU intellectual property portfolio, AtkinsRéalis is the only organization that has taken a leading role in all CANDU reactor life extension projects to date globally. That includes those successfully executed or underway in Asia, North America, Europe and South America.
“AtkinsRéalis is recognized as a world leader in reactor life extensions,” Joe St. Julian, AtkinsRéalis president, nuclear, said in a statement. “As outlined at AtkinsRéalis’ recent Investor Day, our CANDU life extension reactor support business is a $15 billion total addressable market between upcoming projects in China, Canada, Argentina, Romania and South Korea that could include 19 CANDU reactors over the next 10 years. With this latest mandate at Qinshan, we are proud to uphold our reputation as the recognized leaders for CANDU technology life extensions, maintaining a tradition of safety, quality, and excellence in execution.”
As the original equipment manufacturer and steward of CANDU technology, AtkinsRéalis was a member of the project team that originally built the reactors at Qinshan. The Qinshan generating station has already successfully leveraged the capability of CANDU technology to use feedstock sources besides natural uranium – including recycled uranium. The CANDU reactors at Qinshan are also used to produce isotopes for industrial and life-saving medical uses.
AtkinsRéalis’ nuclear business
AtkinsRéalis has more than 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers.
With an innovative technology portfolio, including access to more than 500 patented solutions, AtkinsRéalis solves technically complex challenges across the nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management.
AtkinsRéalis operates and manages government nuclear research sites, transforming aging infrastructure and managing legacy nuclear waste.
AtkinsRéalis’ CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material.
AtkinsRéalis, formerly SNC-Lavalin Group Inc., is a fully integrated professional services and project management company with headquarters in Montreal and offices around the world with clients in strategic sectors such as engineering services, nuclear and capital.
Shares of AtkinsRéalis Group Inc. (TSX:ATRL) were down 0.07 per cent, trading at C$53.86 at 9:45 am ET Thursday.
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(Top photo of Zhejiang Haiyan Qinshan nuclear power plant: Adobe Stock)
