The site has its own fire department, laundry and medical centre. Borealis Infrastructure, the investment arm of one of the country's largest pension funds, will soon become the majority owner of Bruce Power, which operates Ontario's biggest nuclear power complex. Comments that violate our community guidelines will not be posted. British Energy has sold its 82.4 per cent interest in Bruce Power to a Canadian-based consortium that includes TransCanada Pipelines, Cameco Corp., and BPC Generation Infrastructure Trust. Following the financial difficulties of British Energy in the Fall of 2002, the LLP became a wholly Canadian-owned Limited Partnership on Feb. 14, 2003 This is a space where subscribers can engage with each other and Globe staff. Well, who owns OPG? Click here to subscribe. It “owns” the nuclear waste. ... and who currently owns them. Bruce Power was founded as a Limited Liability Partnership in 2001 between British Energy (82.4%), Cameco Corporation (15%), Power Workers' Union and The Society of Energy Professionals. Bruce Power was acquired by OMERS Infrastructure on January 1, 2003. Upon completion of the sale, Borealis will become the majority partner of Bruce Power with 56.1 per cent ownership. Decommissioned in 1984 and located next to Bruce NGS; site leased to Bruce Power by OPG; equipment owned by AECL Bruce: 1–4 1977–1979 Unit 3 limited to 92.5% of capacity 5–8 1984–1987 Now operated by Bruce Power, but site owned by OPG Pickering: 1–4 1971 Units 2–3 in safe shutdown state 5–8 1983 Darlington: 1–4 1990–1993 FreshBooks General Information Description. Following the financial difficulties of British Energy in the Fall of 2002, the LLP became a wholly Canadian-owned Limited Partnership on Feb. 14, 2003 The electricity company also owns the Bruce plant, but Bruce Power operates it under a long-term lease. Utilities Company. Bruce Power said the delay in getting two refurbished units back online was attributable to an equipment problem, which it said should not result in a penalty because it was beyond their control. Michael Rolland, president and CEO of Borealis Infrastructure, said the purchase fits with the investment fund's strategy. Power Workers’ Union (PWU) President, Don MacKinnon expressed his support for today’s announcement from Bruce Power regarding changes to its ownership structure. Bruce Power owns and operates the Bruce nuclear power plant in Ontario and is itself owned by a group of partners including TransCanada and Cameco. Welcome to The Globe and Mail’s comment community. If no suitable bailout is forthcoming, "the company may be unable to meet its financial obligations as they fall due and therefore the company may have to take appropriate insolvency proceedings," British Energy said in a statement. TC Energy also has more green credentials in Ontario in the form of the Bruce Power Plant. Developer of a business accounting platform designed to make online invoicing easy and secure. Duncan Hawthorne, Bruce Power's president and CEO, said the deal is an opportunity to revamp the partnership and put Ontario's long-term energy plan into effect. A majority of our employees are also owners of the business. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Welcome to The Globe and Mail’s comment community. Power Projections SPECIAL Edition JUNE 1984 In the beginning there was just a rocky shoreline forming a border along one side of a scrubby woodland that was home to rabbits, deer and a few snakes. TC Energy has a 48.4 per cent ownership stake in Bruce Power and other partners include OMERS Infrastructure Management Inc. (a trust established by the Ontario Municipal Employees Retirement System), The Power Workers’ Union and The Society of Energy Professionals. So “they” is actually “us”. Cameco is seen in … Bruce Power operates four of the eight CANDU reactors at the nuclear generating facility in Tiverton, Ont., which supplies Ontario Hydro with about 25 per cent of its power. BRUCE POWER IS A CANADIAN-OWNED PARTNERSHIP BETWEEN: BRUCE A OMERS (Borealis) 48.87% TransCanada 48.87% PWU 1.77% Society 0.22% Employee Trust 0.24% FIGURE 1 BRUCE POWER OWNERSHIP BRUCE B OMERS (Borealis) 61 37% TransCanada 31.60% 5 26% Society 1.75% SITE AND ASSETS Province of Ontario 100% Global First Power Ltd. | 324 followers on LinkedIn. Now, OPG has a tough job. This new agreement represents an extension and material amendment to the … 2, Tiverton ON, N0G 2T0 Check out the future of simple, clean and scalable energy production at globalfirstpower.com | Global First Power (GFP) is in the business of developing and deploying small modular reactor technology as an alternative to fossil-fuel generation in remote communities and mines that are not connected to provincial electricity grids. Bruce Power owns and operates the Bruce nuclear power plant in Ontario and is itself owned by a group of partners including TransCanada and Cameco. 351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1, Just $1.99 per week for the first 24 weeks, var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o? “We are very pleased with today’s announcement that Borealis Infrastructure [the investment wing of the Ontario Municipal Employees Pension Plan (OMERS)], will acquire Cameco’s 31.6 percent interest in Bruce Power’s Bruce B Nuclear Generating Station. Toll Free: 1 866 748 4787 The biggest power producer in Britan, British Energy owns about 80 per cent of Bruce Power, while Saskatchewan's Cameco Corp. owns 15 per cent. Source: PLANT Bruce Power: Bruce Power partners with Ont. In the end there was a remarkable structure that taught a young, emerging industry how to make the best nuclear power reactors in the world. An aerial view of the Bruce Power nuclear generating station. Each room uses high pressure sodium lighting and has the added benefit of full-spectrum sunlight from our glass roof, which can be adjusted with our retractable sunshades. PWU News Release Regarding Bruce Power Ownership Structure Announcement. The other large partner is TransCanada Corp. (TSX:TRP), the Calgary-based pipeline company. Care for the environment Robert the Bruce, king of Scotland (1306–29), who freed Scotland from English rule, winning the decisive Battle of Bannockburn (1314) and ultimately confirming Scottish independence in the Treaty of Northampton (1328). The Bruce Power partnership consists of OMERS, The Power Workers’ Union, The Society of Energy Professionals and TC Energy (formerly TransCanada Corporation). Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone. One of the key elements to Ontario's survival on that surreal day just over 13 years ago was the Bruce Power nuclear facility, which was quickly able to provide the power Ontario needed to rebuild its grid. When the refurbishment is completed, Bruce Power will be capable of generating 6,200 MW, or 25 percent of Ontario’s power. Bruce Power's site assets will remain owned by the Ontario government, but the partnership will continue to run four of its eight nuclear reactors in Tiverton, Ont., on the eastern shore of Lake Huron. We aim to create a safe and valuable space for discussion and debate. Source: 4-traders Bruce Power: Bruce Power LP : New partnership to advance medical isotope production to treat prostate cancer (marketscreener.com) Bruce Power is joining forces with Kinectrics and Framatome to advance an innovative project to enable the production of a key medical isotope used to treat prostate cancer known as Lutetium-177. OMERS The company invests in and manages large-scale infrastructure assets exhibiting stability and strong cash flows. Last year, the site produced about a third of Ontario's electricity. Email: info@brucepower.com, Contact | Terms of Use | Accessibility | Sr. It also represents workers at local distribution companies throughout the province and local cable and telephone companies. Bruce Power's site assets will remain owned by the Ontario government, but the partnership will continue to run four of its eight nuclear reactors … The Bruce site houses the Bruce A and B generating stations, which each hold four Candu reactors. Within just five hours, the facility – owned … ... and who currently owns them. It first bought into the Bruce Power system in 2003, when British Energy sold its 31.2 per cent stake. This is a space where subscribers can engage with each other and Globe staff. OMERS Infrastructure is a world leader in direct infrastructure investing with over a decade of investment experience. In 2014, Cameco announced it had agreed to sell its 32% shareholding in Bruce Power to BPC Generation Infrastructure Trust (Borealis Infrastructure) for $450 million. Decommissioned in 1984 and located next to Bruce NGS; site leased to Bruce Power by OPG; equipment owned by AECL Bruce: 1–4 1977–1979 Unit 3 limited to 92.5% of capacity 5–8 1984–1987 Now operated by Bruce Power, but site owned by OPG Pickering: 1–4 1971 Units 2–3 in safe shutdown state 5–8 1983 Darlington: 1–4 1990–1993 None of the companies involved wanted to discuss the poll. Phone: 519 361 2673 The Bruce site houses the Bruce A and B generating stations, which each hold four Candu reactors. The Bruce Power partnership consists of OMERS, The Power Workers’ Union, The Society of Energy Professionals and TC Energy (formerly TransCanada Corporation). Readers can also interact with The Globe on Facebook and Twitter . Note Holders. In May 2012, damage to some non-nuclear equipment forced a delay in reconnecting the refurbished Unit 2 to the provincial power grid. Learn more about his life and reign. The biggest power producer in Britan, British Energy owns about 80 per cent of Bruce Power, while Saskatchewan's Cameco Corp. owns 15 per cent. "We believe the best option for our shareholders is to sell our interest in Bruce Power and continue to reinvest in our core uranium business where we see strong potential for growth," said Tim Gitzel, Cameco's president and CEO. British Energy PLC, which owns an 82.4 per cent stake in Bruce Power, announced yesterday that it is seeking a bail-out from the British government. “We are very pleased with today’s announcement that Borealis Infrastructure [the investment wing of the Ontario Municipal Employees … He is only the sixth person to lead the company as chief executive officer in its modern era. British Energy has sold its 82.4 per cent interest in Bruce Power to a Canadian-based consortium that includes TransCanada Pipelines, Cameco Corp., and BPC Generation Infrastructure Trust. Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone. FreshBooks General Information Description. Bruce nuclear stations — OPG also owns two other nuclear generating stations in Ontario that are leased to Bruce Power L.P. All generating assets as of Sept. 30, 2020, are shown on this map . We stand in solidarity with Black, Indigenous and People of Colour (BIPOC) communities across the world in the unquestionable proclamation that the lives of BIPOC Matter. Read our, I'm a print subscriber, link to my account, Avoid the use of toxic and offensive language. Bruce Power is a Canadian-owned partnership of TC Energy, Ontario Municipal Employees Retirement Systems (OMERS), the Power Workers’ Union and The Society of United Professionals. Bruce Power was founded as a Limited Liability Partnership in 2001 between British Energy (82.4%), Cameco Corporation (15%), Power Workers' Union and The Society of Energy Professionals. … The company invests in and manages large-scale infrastructure assets exhibiting stability and strong cash flows. It is wholly owned by the Ontario Municipal Employees Retirement System (OMERS). Ontario has recently announced plans on going ahead with the refurbishment of six more reactors at the Bruce generating station, which is the world's largest nuclear power plant. If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. We are powered by our people. Developer of a business accounting platform designed to make online invoicing easy and secure. … This article was published more than 6 years ago. PO Box 1540 177 Tie Rd., R.R. It’s a crown corporation, owned by the people of Ontario. Cameco is one of the world's largest uranium producers with mines, mills and conversion plants in Canada, the United States and abroad. Location: Kincardine, Ontario Operator: Bruce Power Reactor Type: CANDU (CANada Deuterium Uranium) Vendor: Atomic Energy of Canada Limited Number of units: 8 reactors Installed capacity: 6,232 MW (Bruce A & B combined) Status: All units operating Licenses issued: October 1, 2018 Licenses expire: September 30, 2028 Start of commercial operation: Between 1977-1979 for Bruce A and 1984-1987 for Bruce B Refurbished units: Bruce A units 1 and 2 Special containment feature: Common vacuum buildin… It’s our problem, and here in South Bruce, we have an opportunity to be part of the solution. Thank you for your patience. TC Energy (formerly TransCanada Corporation) is a leader in the responsible development and operation of North American energy infrastructure. TC Energy is one of the continent’s largest providers of gas storage and owns, or has interests in, approximately 7,700 megawatts of power generation. Upon completion of the sale, Borealis will become the majority partner of Bruce Power with 56.1 per cent ownership. TransCanada also owns a stake in the limited partnership. Utilities Company. While the other stakeholders include the Power Workers' Union and the Society of Energy Professionals. But neither Bruce Power, which operates a nuclear station near Kincardine, nor Ontario Power Generation, which owns and operates the two other nuclear stations in … We aim to have all comments reviewed in a timely manner. The Society is an independent trade union which represents professional employees in the energy sector. FirstEnergy Solutions faces a new round of objections to its bankruptcy plan, including the unions that helped it secure subsidies in Ohio. Rick Lanoha is currently Kiewit’s president and CEO, a role he assumed January 1, 2020. If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. Bruce Power was acquired by OMERS Infrastructure on January 1, 2003. Peter Kiewit, Bob Wilson, Walter Scott Jr., Ken Stinson and Bruce Grewcock preceded him. colleges for future workforce Students will get certification and field/co-op experience with the nuclear power company. Bruce Power owns and operates the Bruce nuclear power plant in Ontario and is itself owned by a group of partners including TransCanada and Cameco. It first bought into the Bruce Power system in 2003, when British Energy sold its 31.2 per cent stake. British Energy PLC, which owns an 82.4 per cent stake in Bruce Power, announced yesterday that it is seeking a bail-out from the British government. The Power Workers’ Union represents the vast majority of power production workers in Ontario. The cost and timelines associated with such a massive project have yet to be released. © Copyright 2021 The Globe and Mail Inc. All rights reserved. FirstEnergy Solutions faces a new round of objections to its bankruptcy plan, including the unions that helped it secure subsidies in Ohio. Bruce Power operates four of the eight CANDU reactors at the nuclear generating facility in Tiverton, Ont., which supplies Ontario Hydro with about 25 per cent of its power. If no suitable bailout is forthcoming, "the company may be unable to meet its financial obligations as they fall due and therefore the company may have to take appropriate insolvency proceedings," British Energy said in a statement. Borealis, a division of the Ontario Municipal Employee Retirement System, announced Friday it will pay $450-million to Cameco Corp. (TSX:CCO) to expand its current stake in Bruce Power by one-third. The facilities hybrid-greenhouse is built to harness the power of the sun and improve the quality of the cannabis flower. This is a 6.4-gigawatt nuclear facility that is 48.4%-owned by TC Energy. There are more than 56 kilometres of roads on site, and at least 25 major structures. More than 830 Bruce Power employees are represented by The Society. About Bruce Power Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. OPG also owns the Bruce plant, but Bruce Power operates it under a long-term lease. "Bruce Power is an investment that continues to fit with our long-term strategy to invest in core, large-scale and high-quality infrastructure assets. Some information in it may no longer be current. In 2014, Cameco announced it had agreed to sell its 32% shareholding in Bruce Power to BPC Generation Infrastructure Trust (Borealis Infrastructure) for $450 million. Bruce nuclear stations — OPG also owns two other nuclear generating stations in Ontario that are leased to Bruce Power L.P. All generating assets as of Sept. 30, 2020, are shown on this map . It also plays a critical role in meeting the supply needs of the province of Ontario," he said in a statement. TransCanada owns 49 percent of Bruce A and 32 percent of Bruce … Who owns Bruce Power? Bruce Power owns and operates the Bruce nuclear power plant in Ontario and is itself owned by a group of partners including TransCanada and Cameco. Damage to some non-nuclear equipment forced a delay in reconnecting the refurbished 2!, when British Energy sold its 31.2 per cent stake produced about a third Ontario. A role he assumed January 1, 2020 its modern era it to letters globeandmail.com. 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