The energy supplier Bruce Power Inc. has signed an alliance agreement with the valve manufacturer Velan Inc. The two Canadian companies have agreed to co-operate for the next ten years.
Part of the agreement is the delivery of numerous valves worth 100 million dollars. These are mainly nuclear and non-nuclear valves. Velan will also be responsible for modernisation and technical services in the future.
Future-proof until 2064
Bruce Power is the operator of the Bruce nuclear power plant, which is located on the shores of Lake Huron, around 250 kilometres north-west of Toronto. A total of eight nuclear reactors are in operation there, generating a capacity of 5,403 megawatts. In terms of capacity, it is the third largest nuclear power plant in operation in the world.
The energy supplier will be realising a number of asset management and life extension projects in the coming years. These should help to ensure that the eight nuclear reactors continue to function perfectly until 2064 and beyond. The partnership now announced with Velan should also contribute to this.
Energy supplier contributes to economic development
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.
“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.”
“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. “This latest agreement not only strengthens our alliance, but also provides our company with the long-term visibility to make future investments.”
Velan, founded in Montreal in 1950, is a manufacturer of industrial valves with a strong presence in the nuclear, cryogenic and defence industries. In spring 2023, the Canadian Flowserve Corporation acquired the company (see news).