Bruce Power, a partnership of British Energy, Cameco and union workers, will invest C$1.8 billion ($1.2 billion) to upgrade its nuclear generating station on Lake Huron.
Bruce Power Chief Executive Officer Duncan Hawthorne told the annual conference of the Canadian Nuclear Society that the partnership will replace turbines in several units and restart two others, according to a statement.
The venture will spend eight hundred million Canadian dollars to replace turbines at four reactors at the Bruce B station which can generate 3,200 megawatts of power, or enough to light 3.2 million homes. Another C$340 million will be spent to restart units three and four at the Bruce A generating station which has a fifteen hundred megawatt capacity.
“Some critics say we are simply milking a cash cow and suggest we are doing nothing more than sitting back and counting our profits,” Hawthorne said in the statement. “Nothing could be further from the truth.”