Study Finds Initial $28.7 Billion Canadian Dollars to be Generated for GDP with $8.1 Billion More Annually
Ontario, Canada, Feb. 28, 2024 – Westinghouse Electric Company released a comprehensive, independent report today from PricewaterhouseCoopers LLC (PwC) outlining the significant economic impact for Canada by deploying four AP1000® reactor units in Ontario.
The study found that the manufacturing, engineering and construction phase of four AP1000 units could generate more than $28.7 billion Canadian dollars of Gross Domestic Product (GDP) impact for Canada and over 125,000 person-years of employment. Once operational, the units would create an additional $8.1 billion in GDP and support more than 12,000 jobs annually.
“Our globally-deployed AP1000 reactor fleet is a licensed and proven technology that provides exceptional availability and economics across the world,” said David Durham, President of Westinghouse Energy Systems. “This report highlights that our technology and company – with strategic investments, a growing employee base and Canadian ownership – is well suited to meet Canada’s energy needs for generations to come.”
Additional, key findings outlined by PwC in the report include:
- Westinghouse AP1000 technology can help Canada meet its emission reduction plan. One unit alone can power over 750,000 homes annually, and a four-unit facility can power at least three million homes or is the equivalent of removing 6 million cars from the road.
- The AP1000 Canadian supply chain can also support deployment of the technology around the world. Each new reactor installed globally can provide up to $880 million of GDP impacts in Canada.
- The AP1000 project in Ontario also would further develop human capital through cutting-edge nuclear technology and leadership trainings, and partnerships with local, higher education institutions.
- As the AP1000 project supports the growing nuclear supply chain across Canada, it also drives greater economies and scale for deployment of additional Westinghouse technologies such as the AP300™ Small Modular Reactor and the eVinci™ microreactor.
The AP1000 reactor is the only operating Generation III+ reactor with fully passive safety systems, modular construction design and has the smallest footprint per MWe on the market. One AP1000 reactor is operational with another near completion at the Vogtle site in Georgia, while four AP1000 units are currently setting operational performance records in China with four additional reactors under construction, and two more planned. Poland selected the AP1000 reactor for its nuclear energy program; Ukraine has made firm commitments for nine AP1000 units, and the technology is under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom and the United States.
Download the full report – The Economic Impact of a Westinghouse AP1000 Reactor project in Canada – here.
