Article – The nuclear power landscape in Canada is witnessing what might become a significant shift as Montreal-based engineering giant AtkinsRéalis announced a new collaboration agreement with France’s state-owned electricity company EDF on Monday.
This partnership brings together two heavyweights in the nuclear sector at a time when governments across North America and Europe are reconsidering nuclear energy’s role in the transition away from fossil fuels. AtkinsRéalis (formerly SNC-Lavalin) brings decades of CANDU reactor expertise to the table, while EDF operates the world’s largest fleet of nuclear power plants.
According to the announcement, the agreement will see the companies collaborate on nuclear new builds, plant life extensions, and decommissioning projects worldwide. They’ll also explore advanced technologies including small modular reactors (SMRs) – the compact nuclear systems that have captured attention from investors and policymakers alike.
“This partnership represents more than just business strategy – it signals how the nuclear sector is consolidating expertise as countries race to meet climate goals,” said Joe Sczurko, president of AtkinsRéalis’ nuclear business unit, in the press release.
The timing couldn’t be more strategic. Just last month, Canada’s federal government announced its Clean Electricity Regulations with provisions that effectively recognize nuclear as clean energy – a policy shift that opens doors for new development. The announcement also follows Ontario Power Generation’s December decision to refurbish the Pickering Nuclear Generating Station rather than decommission it, a $2.1 billion investment that extends the facility’s life to 2026.
Financial terms weren’t disclosed, but industry analysts suggest this type of agreement typically involves technology sharing rather than immediate capital investment. The stock market responded cautiously, with AtkinsRéalis shares rising just 0.7% on the Toronto Stock Exchange following the announcement.
“We’re seeing a pattern where established nuclear operators are forming strategic partnerships rather than pursuing outright acquisitions,” explains Martha Richardson, energy transition analyst at RBC Capital Markets. “It reduces risk while maintaining flexibility in a sector where project timelines span decades.”
The renewed interest in nuclear comes amid mounting challenges with wind and solar deployment timelines and the recognition that these renewables alone may not provide the consistent baseload power needed to replace fossil fuels. The International Energy Agency‘s most recent outlook suggests nuclear capacity needs to double by 2050 to meet climate targets.
However, the industry still faces significant headwinds. New nuclear projects in Western countries have consistently run over budget and behind schedule. EDF’s flagship Flamanville 3 reactor in France, originally budgeted at €3.3 billion with completion expected in 2012, has seen costs balloon to over €19 billion with operations now anticipated to begin later this year – more than a decade late.
“These partnerships look promising on paper, but the proof will be in execution,” says Daniel Breton, president of Electric Mobility Canada and former Quebec environment minister. “The nuclear industry has a credibility gap to overcome after decades of cost overruns.”
For Canada specifically, the collaboration might boost prospects for domestic nuclear projects. Ontario is already exploring adding SMRs to its grid, while New Brunswick and Saskatchewan have formed their own nuclear development partnerships.
AtkinsRéalis has been positioning itself for this nuclear renaissance. Since rebranding from SNC-Lavalin last year – part of its continued efforts to distance itself from past corruption scandals – the company has emphasized its nuclear credentials. It maintains intellectual property rights to CANDU technology, which powers approximately 10% of Canada’s electricity through reactors in Ontario and New Brunswick.
EDF brings its own complementary expertise. The company operates 56 reactors in France, where nuclear generates about 70% of the country’s electricity. It’s also involved in new nuclear projects in the UK, including the controversial Hinkley Point C.
What makes this partnership particularly noteworthy is how it bridges two different nuclear technology lineages. CANDU reactors use heavy water as both coolant and moderator and can run on natural, unenriched uranium. This differs from the pressurized water reactors that dominate EDF’s fleet, which require enriched uranium fuel.
“Combining these technological approaches could lead to innovations we haven’t seen before,” notes Caroline Dionne, nuclear policy researcher at the University of Toronto. “But the bigger question remains whether new nuclear can compete economically with increasingly cheaper renewables plus storage.”
For communities where nuclear facilities operate, the partnership might signal longer-term stability. Nuclear plants typically employ hundreds of highly-skilled workers with salaries well above regional averages. The Ontario communities of Pickering and Darlington have built their economic bases around their respective nuclear facilities.
The collaboration agreement comes against a backdrop of heightened energy security concerns following Russia’s invasion of Ukraine and subsequent European energy crisis. Countries that had previously planned nuclear phaseouts, including Belgium and Japan, have reversed course.
Whether this partnership translates into actual new nuclear construction in Canada remains uncertain. The last new CANDU reactor built domestically was Darlington Unit 4, which began commercial operation in 1993. Since then, Canada’s nuclear sector has focused primarily on refurbishment of existing assets.
What is clear is that the nuclear conversation has fundamentally changed from where it stood just five years ago. Once considered by many to be a sunset industry, nuclear energy is receiving fresh consideration as a potential climate solution – and partnerships like this one between AtkinsRéalis and EDF suggest the industry believes its moment has returned.
