Vancouver, BC – Concert Infrastructure Ltd., and its consortium partners, have reached commercial and financial close on the new Bruce Power Office Complex and Training Facility in Kincardine, Ontario. Over the last several months, Concert has been working with Bruce Power to develop the project and oversee an early works program. The project is being delivered by Concert Infrastructure through a modified design, build, finance and maintain model over a term of 26.5 years including early works.
The 129,000-square-foot building will be located on 7.1 hectares in Kincardine. It will house offices and the unique training tools that will be vital to the success of the Bruce Power Major Component Replacement projects, ultimately supporting the Government of Ontario’s long-term energy plan. The refurbishment of the Bruce Power nuclear reactors will occur on six of eight reactors through 2033, beginning in 2020 with Unit 6. These projects will extend the life of the Bruce Power site to 2064. Bruce Power, created in 2001, is Canada’s largest public-private partnership.
“Concert is excited to be working with Bruce Power to deliver this critical infrastructure project to support its reactor refurbishment program,” said David Podmore, Concert Infrastructure Ltd.’s Chairman & CEO. “Each and every one of our staff, as well as the Canadians represented by the ten union and management pensions plans who own our company, are extremely proud to help meet the Province’s long-term energy requirements. We are continuing Concert’s legacy as a project developer and manager of essential infrastructure that positively impacts Canadian communities.”
The new building will feature a two-story office area with classrooms, amenities and facilities for the nearly 500 employees. This includes a one-story, high-bay shop with storage and training space for 150 workers. The new facility is expected to open in early 2019.
“This project demonstrates that the public-private partnership delivery model can be scaled to smaller projects, while delivering value to the ultimate project sponsors,” said Derron Bain, Concert Infrastructure’s Senior Vice President. “The model and approach developed for Bruce Power’s unique requirements can be translated to Crown corporations, government agencies and municipalities to deliver on their public infrastructure needs.”
The integrated Concert Infrastructure consortium includes the following companies:
· Concert Infrastructure Fund
· Bird Construction Industrial Services Ltd.
· Stantec Consulting Inc.
· Concert Realty Services Ltd.; and
· Stonebridge Financial Corporation
About Concert Infrastructure
Concert Infrastructure is dedicated to developing and managing a diverse range of critical social and economic infrastructure in support of Canada’s growing economy. Proudly Canadian, Concert Infrastructure is committed to being a responsive, long-term, and community-focused investment and development partner.
For Concert Infrastructure media inquiries contact:
Derron Bain, Senior Vice President
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live.
For Bruce Power media inquiries contact:
John Peevers, Department Manager, Communications and Media Relations