Bruce Power signs 10Y Alliance agreement with Velan Inc. for valve supply and related service work

Bruce Power has signed a $50-million alliance agreement with Velan Inc. to provide valves and valve support over the next 10 years. As Bruce Power and Velan work collaboratively together on the execution plans, the value of agreement is estimated to be much higher, approaching $100 million.

Velan, a Canadian company that is a world-leader in valves, will provide nuclear and non-nuclear valves, as well as refurbishment and technical services as Bruce Power continues its asset management and life-extension projects to operate until 2064 and beyond.

“We’re pleased to partner with Velan on our valve program, which will help us to continue to produce clean and reliable energy for the people of Ontario for decades to come,” said David Furr, Bruce Power’s Vice-President, Supply Chain. “This strategic agreement allows for both material and capacity planning for our projects and is beneficial for cost management for both companies.”

Bruce Power’s Life-Extension Program is Ontario’s largest clean-energy initiative and one of Canada’s largest private-sector infrastructure projects, funded by private-sector investors. Bruce Power provides between $9 billion and $12 billion in direct and indirect economic activity in Canada from operations and its Life-Extension Program, creating tens of thousands of jobs and economic development.

“This long-term contract represents a key milestone in Velan’s nuclear power growth strategy,” said Laurent Pefferkorn, Velan’s Executive Vice-President of Sales. “Over the years, Bruce Power and Velan have established a highly successful partnership to support Ontario’s energy needs. This latest agreement not only strengthens our alliance, but also provides our company with the long-term visibility to make future investments.”