A 10-year Master Service Agreement has been signed by Bruce Power and Kinetrics Inc.
According to a release from Bruce Power, the agreement is "in support of continued excellence in its operation, Life-Extension Program and the production of cancer-fighting medical isotopes."
The agreement is estimated to be worth $2.5 billion, and it will support "engineering project management, project controls, outages, lifecycle asset management, reactor programs and tooling, equipment supply, nuclear safety and licensing as well as maintenance activities," the release shared.
Additionally, this agreement ensures Kinetrics Inc. can continue to support Bruce Power with solutions to areas like cost certainty, reducing outage durations and frequency, as well as continuing to support medical isotope production.
“Bruce Power is pleased to continue its partnership with Kinectrics as we continue to power Ontario’s future with a reliable supply of clean electricity and the production of cancer-fighting medical isotopes for the world health-care community,” said James Scongack, Bruce Power’s Chief Operating Officer and Executive Vice-President. “We share a commitment to excellence, localization and economic development as we deliver on our life-extension, Project 2030 and isotope programs.”
“Not only does nuclear power provide more than 50 per cent of the province’s electricity, it’s also producing life-saving medical isotopes that are being used to diagnose and treat cancers in Ontario and around the world,” said Energy and Electrification Minister Stephen Lecce. “As someone who has been impacted by cancer in my family like so many Canadians, I’m pleased to see Bruce Power and Kinectrics working together to ensure we can continue to save lives and further cement Ontario’s place as a global leader in the production of cancer-fighting medical isotopes.”