Digging In Podcast: Breaking down the Top 100 Infrastructure Projects Report

Download the full Renew Top 100 Projects Report here.

Transcript:

Russell Hixson: All right. Welcome back to the Digging In podcast. I’m your host, Site News editor Russell Hixson, and I have a special guest joining me from the big city of Toronto. John, why don’t you introduce yourself?

John Tenpenny: Thanks, Russell, for having me. This is a great opportunity. I’m the editor of ReNew Canada as well as Water Canada magazines with the newly formed and created Site Media Group that we’re both now a part of. I’m very excited to be working alongside you now.

Russell Hixson: Likewise. We’ve had a lot of big announcements with Site Media over the last few days, but we had a major announcement with the top 100 projects list. I was hoping you could kind of walk me through what that list is and what it entails.

John Tenpenny: Sure. The top 100 projects report has been going since 2004 when it was started by the formerly known entity as Actual Media. I’ve been with ReNew for the past five years, so this is my sixth report. Basically, it is the top 100 public infrastructure projects in Canada, listed by project value. We have five main categories: buildings, energy, transit, transportation, and our “other” category, which includes things like remediation projects, water and wastewater, and communications projects.

Russell Hixson: Why don’t you tell me a little bit about how you and your team go about building this list? I’m always curious how long it takes and what the effort is behind the scenes.

John Tenpenny: Well, it’s year-long. It goes on all year and never really stops, even though the report comes out in January. We start usually around August by sending out a prospective list to a comprehensive list of construction, engineering, and design firms. It contains projects currently on the list and new ones from the past year. We invite them to let us know which ones they’re working on. On the other side, I reach out to all the owners of the major projects for information from dollar value to involved companies, timelines, and descriptions. We also get high-res photos for use online and in the report. We compile it right up until early December. We put it on a website and have a digital edition. Most people access it on the website now where they can interact with it, such as searching by company name to see all their projects.

Russell Hixson: You’ve been doing this for years. What are some of the themes that emerged from this year’s list that might be different from previous lists? What stood out to you?

John Tenpenny: The big thing was the jump in the total value. Last year, the 2025 report total for 100 projects was $300 billion. This year, we jumped to $343 billion—the largest single-year jump in the 20 years we’ve been doing this. That was largely due to two new nuclear projects in Ontario: the Darlington New Nuclear Project and the Pickering Refurbishment Project. The inclusion of more nuclear projects really bumped up our list. Everything else sort of remained the same. Transit is our biggest contributor, making up nearly a quarter of the projects and $123 billion of the total.

Russell Hixson: Where is this work happening? For transit, I know a lot of it is the GTA. I’m based in Vancouver, and while we have the Broadway Subway and Surrey-Langley, it pales in comparison to what’s going on out your way.

John Tenpenny: You’re absolutely right. The majority of transit projects—specifically subways and LRTs—are in the GTA. This includes the Ontario Line, the Eglinton Crosstown West Extension, the Hazel McCallion LRT, the Scarborough Subway Extension, and the Yonge North Subway Extension from Finch to Vaughan. Montreal’s Blue Line extension is also in the top 10, one of the largest outside Ontario. Then there are GO Expansion projects and the new Alto high-speed rail project. While Alto is listed at $4.5 billion, some say it could cost up to $90 billion eventually. It’s just getting off the ground, so we’re using current contract values. It could be on our list for 10 or 15 years as it grows.

Russell Hixson: We see condos and commercial projects go up and down, but what separates these massive mega-projects from average day-to-day work? You mentioned these can stay on the list for a decade.

John Tenpenny: They are not small. This year, 76 of the 100 projects start at $1 billion. Our lowest project value is around $692 million. Every year the “bottom” comes up. The differentiator is time. Projects ranging from $1 billion up to our $29 billion number-one project take time. Things change, budgets go up, and timelines extend because they are very complicated—like nuclear or large hospital projects. The Peter Gilgan Mississauga Hospital value jumped to $14 billion this year after a big contract signing. Their complexity often requires governments to break them into separate packages to keep things on time and on budget.

Russell Hixson: Since you track these all year, what trends are you seeing in project delivery, such as single versus bundled contracts?

John Tenpenny: When this list started, P3 (Public-Private Partnership) was the big model. That has evolved into more collaborative models like IPD (Integrated Project Delivery), Alliance projects, or design-build-finance-operate-maintain. In transit, Ontario used to put out one single contract for tunnels, stations, track, and technology. Now, they are packaging them out. For instance, one contract might be just for tunnels and another for stations and rail. This shift came after some notorious projects took much longer and cost far more than expected. Packaging things out seems to help early-stage transit projects stick closer to timelines and budgets.

Russell Hixson: With long timelines, things can get weird, like we saw with the pandemic. The longer a project goes, the more “rolls of the dice” there are for random events outside your control.

John Tenpenny: You still see pandemic effects in this report regarding budgets and timelines. The pandemic shook up everything. Projects were shut down for months, and then supply chains tightened. Even when work resumed, material costs had spiked. Budgets and timelines increased across the board. Prices in the construction industry have remained higher than pre-pandemic levels. Pandemic effects are not over in the construction industry for mega-projects.

Russell Hixson: How is the Major Projects Office impacting infrastructure? It seems every few weeks there’s a new campaign to vie for one of their spots.

John Tenpenny: It has brought a lot of attention to these projects by prioritizing which ones to push through first. Projects like the Montreal Contrecoeur Terminal may get done quicker because funding comes together faster with government backing. We might see new projects like Churchill Port in Manitoba join the list in the next year or two if the office follows through. This “age of nation building” is a major boon for public infrastructure.

Russell Hixson: It feels like leaders and proponents now have to make a public case for why their project deserves that boost. The public ends up learning more about things like port upgrades that they might not have thought about otherwise.

John Tenpenny: Exactly. Proponents have to fine-tune their pitch to get noticed. I also think we’ll see more large infrastructure in the North, focused on defense and the Arctic. There’s a communications line in the Northwest Territories likely to be pushed by the office. Defense spending is a high priority right now. We’ll likely see more military, base-building, and Arctic telecommunications projects to support national defense and expand export markets.

Russell Hixson: We’re recording this on January 21st, and with global politics shifting, it seems Canada is moving toward new partners and reshuffling its priorities toward that kind of spending.

John Tenpenny: Absolutely. We’re looking for partners outside our neighbors to the south. Defense will be a huge spend. Whether it’s roads in the Arctic or port projects like Roberts Bank in Vancouver, which has $3 billion in funding, these will get increased support. Churchill Port is going to be a big one.

Russell Hixson: So, the burning question: who took the top spot?

John Tenpenny: The number-one project is the Pickering Generating Station refurbishment owned by Ontario Power Generation, at $26.8 billion. Number two is the Darlington New Nuclear Project, building SMRs (Small Modular Reactors) at $20.9 billion. Two new projects right at the top.

Russell Hixson: What can you tell me about all this nuclear work? I’ve heard roughly 60% of Ontario’s power is nuclear-generated.

John Tenpenny: It’s in the 50–60% range, and that’s going to continue. Since getting out of coal, Ontario is putting its money into nuclear. Beyond Pickering and Darlington, Bruce Power is being refurbished, and there’s talk of new reactors at Bruce and near Port Hope. We could see two more nuclear projects added to the list in coming years. It’s the provincial government’s long-term plan for the next 40 to 100 years. There’s even a plan to export excess power to Michigan or New York. Alberta and Saskatchewan are also looking into nuclear and SMR research, so we may eventually see nuclear projects outside Ontario.

Russell Hixson: Nuclear seems “slept on” compared to data centers, but it’s a great time to be a nuclear expert. I also understand they provide critical medical isotopes for global sterilization and imaging.

John Tenpenny: That will definitely continue. While it’s clean energy with no emissions, there is the issue of nuclear waste. The Nuclear Waste Management Organization is planning a deep geological repository in Northern Ontario. That could eventually be a $40–50 billion project, though it could take 5 to 10 years just to get shovels in the ground and even longer to complete.

Russell Hixson: Waste storage is a fascinating and complex problem given how long it stays unsafe for humans. To wrap up, how can people get involved or share their participation in these projects?

John Tenpenny: Every year when the list comes out, I get calls from companies asking why they aren’t listed. Our contact list grows every year. If your company worked on one of these projects and wants to be recognized, reach out directly. You can find me through the ReNew Canada or Top 100 websites, or email me at john@sitemediagroup.com. I’m happy to add you so next year’s list is even more comprehensive.

Russell Hixson: Well, I guess it’s time to get started on next year’s list!

John Tenpenny: I’ve got to get back to it. Thanks, Russell.

Russell Hixson: Thanks for joining me, John. Take it easy.

Russell Hixson: All right. Well, I hope you enjoyed our chat with John. Thank you so much for listening. But before I sign off, I have to let you know: we are throwing an awards gala for all our Site Service Award finalists, and you’re invited. There’ll be drinks, food, and anticipation as we prepare to announce the winner for each category. So, if you want tickets, surf on over to siteserviceawards.com/event and get them before they’re gone. Have a good one, everyone! Bye!