The Major Component Replacement (MCR) project that will extend the life of Bruce Power's Unit 6 reactor for another 30-35 years has hit another milestone.
The Independent Electricity System Operator (IESO) verified the company’s final cost estimate for the project, meaning that the project will proceed in January, 2020 as planned.
The Unit 6 MCR will be a 46-month project.
President and CEO Mike Rencheck says that Bruce Power will create and sustain 22,000 jobs across the province annually, and inject $4-billion into Ontario’s economy each year.
According to Bruce Power, the overall Life-Extension Program remains on-time and on-budget.
Huron-Bruce MPP Lisa Thompson, Ontario education minister, welcomed the news and the impact it will have for the community and the province.
She says that Bruce Power is an economic driver in communities across Huron-Bruce, and positions the region for sustainable prosperity for years to come.
Bruce Power’s multi-year investment project and operation represents Canada’s largest infrastructure project, and is also the country’s largest public-private partnership, as the company invests private dollars into public assets, while optimizing the benefits from its site for the province.
The total cost of the Unit 6 MCR is $2.185-billion. An additional $554-million is being invested in one-time costs for tooling to be used on all units and site infrastructure, in support of the project. These are all funds being invested by the private sector, which means no money is coming out of your pocket in order for this project to happen.
Unit 6, in addition to generating low-cost, stable electricity, will also being a global source of Cobalt-60, used for sterilization of medical instruments and to treat cancer.