Bruce Power has signed a USD 50M alliance agreement with Velan Inc. to provide valves and valve support over the next 10 years. As Bruce Power and Velan work collaboratively together on the execution plans, the value of the agreement is estimated to be much higher, approaching USD 100M.
Velan, a Canadian company, will provide nuclear and non-nuclear valves, as well as refurbishment and technical services as Bruce Power continues its asset management and life-extension projects to operate until 2064 and beyond.
Bruce Power’s Life-Extension Program is Ontario’s largest clean-energy initiative and one of Canada’s largest private-sector infrastructure projects, funded by private-sector investors. Bruce Power provides between USD 9bn and USD 12bn in direct and indirect economic activity in Canada from operations and its Life-Extension Program, creating tens of thousands of jobs and economic development.
