(8 August 2024, Montreal) Candu Energy Inc., an AtkinsRéalis company [AtkinsRéalis Group Inc.] (TSX: ATRL), has entered into an agreement with Third Qinshan Nuclear Power Company Limited (TQNPC) to support the ongoing 30-year life extension of the two CANDU® reactors at the Qinshan Nuclear Generating Station, located in China. As part of the project for Phase III, AtkinsRéalis will provide design, engineering, and procurement services. 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,” commented Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. “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.”
CANDU Technology: Helping Engineer a Better Future
Qinshan’s CANDU units began operating between 2002-2003. In 2024, TQNPC reached a milestone of continuous operation for one of the units for 677 days, setting a national record. During this period, the CANDU reactor generated electricity equivalent to 3.5 million tons of coal, achieving more than nine million tons of carbon emissions reduction.
The reactors are now approaching their scheduled date for component replacement, which will facilitate 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,” said Joe St. Julian, President, Nuclear, AtkinsRéalis. “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.[1] 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 which originally built the reactors at Qinshan. They came into service on schedule and on budget — as is the case for the last seven CANDU units built around the world. 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 both industrial and life-saving medical uses.