OPG and Westinghouse to explore areas for nuclear cooperation
Latest example of industry agreements to come out of World Nuclear Exhibition
PARIS, Nov. 30, 2023 /CNW/ - World Nuclear Exhibition - Ontario Power Generation (OPG) and Westinghouse Electric Company have signed a Memorandum of Understanding (MOU) establishing a framework for the two organizations to identify potential areas of cooperation for deployment of nuclear technologies.
Under the MOU, the companies will seek to:
- Explore potential commercial opportunities for Westinghouse's AP1000®, AP300™ and eVinci™ reactor technologies.
- Investigate licensing and regulatory pathways for new nuclear projects in Canada.
- Examine other potential areas for collaboration in the new-build market.
The MOU signing took place in Paris at the World Nuclear Exhibition where companies and representatives from around the world are gathering to explore the latest innovations as well as opportunities to collaborate and shape the future of clean nuclear energy.
- To effectively decarbonize the broader economy, Ontario's Independent Electricity System Operator says demand for clean, reliable baseload electricity will rise sharply in coming years and has called for almost 18,000 MW of new nuclear capacity by 2050.
- With a five decades-plus history operating and refurbishing large nuclear stations, OPG is leading the way on new nuclear development to help meet this growing demand. Current work includes building North America's first fleet of small modular reactors at its Darlington New Nuclear site. The first of four 300 MW SMRs will be completed by the end of 2028, and online by the end of 2029. The MOU with Westinghouse provides OPG an opportunity to consider options for future growth.
- Westinghouse has a portfolio of advanced nuclear reactor technologies including the AP1000® large reactor technology, AP300™ SMR and the eVinci™ microreactor. The AP1000 reactor has been successfully deployed in China and the US. Eight units are under construction in China and one is nearing completion in the US.
- Westinghouse is a global Canadian owned corporation with more than 250 Canadian staff and growing, providing essential services to the operating CANDU fleet in addition to developing the next generation of nuclear technologies.
"There is no credible path to net zero, and to reliably meeting increasing clean electricity demand related to rapid electrification, without nuclear power," said OPG President and CEO Ken Hartwick. "Along with building four SMRs at our Darlington New Nuclear site, we believe it is prudent to explore all nuclear technologies that could help build out the grid in a timely, cost-effective way that benefits Ontario ratepayers."
"Westinghouse looks forward to further developing our long-standing relationship with OPG and to the opportunities that our full set of advanced reactor technologies offer for a very diverse set of market needs," said Patrick Fragman, President and CEO, Westinghouse. "The AP1000 reactor has achieved fleet status, providing exceptional availability and economics. For that reason, we based the AP300 SMR on this proven, licensed technology. Along with the eVinci microreactor for a myriad of applications for communities and industry, we are proud to explore these technologies with OPG for Canada."
"Ontario has decades of experience building and operating nuclear power - experience that has helped our province build one of the cleanest and most resilient electricity grids in the world," said Ontario Minister of Energy Todd Smith. "I'm pleased to see OPG and Westinghouse look for opportunities for collaboration including leveraging the expertise of Ontario's expert nuclear operators as Westinghouse deploys their reactors around the world, as well as utilizing Ontario's robust nuclear supply chain."
About OPG
As one of North America's largest, most diverse electricity generators, OPG invests in local economies and employs thousands of people across Ontario and the US. OPG and its family of companies are leading the development of new clean technologies, refurbishment of existing assets, and electrification initiatives to power the growing demand of a clean economy for decades to come. Learn more about how the company is advancing these initiatives while prioritizing people, partnerships, and strong communities by reading OPG's Climate Change Plan, Reconciliation Action Plan, and Equity, Diversity, and Inclusion (ED&I) strategy.
About Westinghouse Electric Company
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies to utilities globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and X.
SOURCE Ontario Power Generation Inc.
Ontario Power Generation: 416-592-4008 or 1-877-592-4008, Follow us on X (Twitter): @opg; Westinghouse Electric Company: [email protected]
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