Ontario approves $26.8B Pickering nuclear refurbishment​

Key Takeaways:

• Ontario has approved a $26.8-billion refurbishment of Pickering’s four CANDU reactors, extending their life by up to 38 years, generating 30,500 construction jobs, and sustaining 6,700 operational jobs.
• The project will keep over 90% of spending in Canada, add an estimated $41.6-billion to GDP, support Indigenous-owned businesses, and secure long-term production of the medical isotope Cobalt-60.
• Once completed in the mid-2030s, the refurbished station will provide up to 2,200 MW of clean power—supporting Ontario’s long-term energy plan amid rising electricity demand.

The Whole Story:

Ontario Power Generation has received government approval to refurbish four CANDU reactors at the Pickering Nuclear Generating Station, extending the facility’s operations by up to 38 years and creating approximately 30,500 jobs during construction.

The refurbishment project carries a final budget of $26.8 billion, with more than 90% of spending directed to Canadian businesses. Once complete in the mid-2030s, the station will generate up to 2,200 megawatts of electricity—enough to power 2.2 million homes.

“For more than 50 years, nuclear power has been the backbone of Ontario’s energy grid, with the Pickering Nuclear Generating Station as one of the best-performing and continuously operating nuclear stations in the world,” said Stephen Lecce, Minister of Energy and Mines, in a news release. “Extending the life of the facility will create jobs for tens of thousands of skilled workers while we build up the Ontario supply chain and keep 90% of our project spend in this country.”

Pending final licensing approvals from the Canadian Nuclear Safety Commission, OPG will begin the Project Execution Phase in early 2027 to refurbish Pickering “B” units 5 to 8. The project is expected to sustain 6,700 jobs throughout the station’s operation and increase Canada’s GDP by $41.6 billion, the government said.

OPG will use the same project management model that has kept the Darlington refurbishment on schedule and on budget, the company said in the release. The utility has also committed to investing $100 million with Indigenous-owned companies over the life of the project.

The refurbishment is also expected to secure a long-term supply of Cobalt-60, a medical isotope used in cancer treatments and sterilization of medical equipment and food products.

“By making this responsible investment into Pickering now, we ensure this clean energy workhorse will continue to power Ontario for future generations,” said Nicolle Butcher, President and CEO of OPG. “The expertise developed during Darlington’s refurbishment, together with the skilled Pickering team, ensures we are ready to deliver another complex nuclear project—on time, on budget, safely, and with quality.”

The refurbishment is a key pillar of the province’s ​Energy for Generations​ integrated energy plan, which aims to ensure Ontario has reliable, affordable power to support new housing and economic growth. According to the Independent Electricity System Operator, the province’s electricity demand is forecast to increase significantly by 2050.

In October 2024, the Canadian Nuclear Safety Commission authorized Pickering “B” units to operate until the end of 2026. Further operation requires a complete refurbishment.