Atomic Energy of Canada Limited has won a major contract from Korea Hydro &
Nuclear Power Co., Ltd. for the re-tubing of the Wolsong 1 CANDU 6 nuclear reactor.
The Wolsong 1 CANDU unit went into operation in 1982. KHNP owns and operates four CANDU 6 plants.
Terms of the contract include a fixed price and 55-month schedule.
The deal is AECL's first international re-tubing project and the third major contract awarded to the company in the past 10 months. It had previously been awarded contracts to refurbish the Point Lepreau CANDU plant in New Brunswick and the re-tubing of the Bruce A Unit 1 & 2 reactors for Bruce Power in Kincardine, Ontario.
The three contracts have a combined value of more than $1.5 billion.
"Re-tubing essentially delivers a new power plant for half the price of building a new station and enables it to continue generating electricity for many more years," says AECL president and CEO Robert Van Adel.
AECL's chief operating officer, Ken Petrunik, called the contract a "ringing endorsement" of AECL's ability to deliver end-to-end solutions for the CANDU reactor, from design and construction to financing and life extension.
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