Aecon Group Partners with NB Power for Mactaquac Life Achievement Project

📅 2 weeks ago 🏷️ Aecon Group Inc.

Aecon Group Inc. has entered a development phase agreement with NB Power for the Mactaquac Life Achievement Project, set to extend the operational life of the Mactaquac Generating Station.

On July 30, 2026, in Toronto, Ontario, Aecon Group Inc. (TSX: ARE) announced a significant milestone in its collaboration with New Brunswick Power Corporation (NB Power). The partnership, known as the Mactaquac Improvement Partnership, in which Aecon holds a 33.3% stake, has formalized a development phase agreement aimed at executing civil works for the Mactaquac Life Achievement Project at the 672 MW Mactaquac Generating Station.
This initiative will employ an Early Contractor Involvement strategy, allowing the Mactaquac Improvement Partnership—comprising Aecon, FlatironDragados, and Green Infrastructure Partners—to work closely with NB Power over a collaborative 12-month development phase. During this period, they will focus on refining design elements, establishing a project schedule, and estimating costs associated with various components of the project.
Following the successful conclusion of this development phase, the construction work is anticipated to commence in the second quarter of 2027, operating under a target price model. The completion of the Mactaquac Life Achievement Project is projected for 2039, marking a critical juncture in the rehabilitation of the Mactaquac Generating Station. This project aims to ensure that the facility can function effectively throughout its intended 100-year lifespan.
The scope of civil works encompasses various essential upgrades, including the rehabilitation of the powerhouse and spillways, replacement of six turbines, enhancement of electrical and mechanical components, and improvements to both upstream and downstream water storage and environmental infrastructure. These upgrades are particularly aimed at supporting the ecosystem of the Saint John River.
Constructed in 1968, the Mactaquac Generating Station is a vital power generation facility, contributing approximately 12% of New Brunswick’s electricity and playing a crucial role within the electricity grid of the surrounding regions. Jean-Louis Servranckx, President and CEO of Aecon Group Inc., emphasized the importance of the facility, stating that Aecon’s extensive experience in executing complex hydroelectric, dam, and water management infrastructure projects will be crucial for the successful delivery of this formidable undertaking.
Servranckx added that the project represents an opportunity for all stakeholders to extend the operational life of the facility while ensuring a continuous supply of clean, reliable energy for generations to come. Thomas Clochard, Executive Vice President and COO of Aecon, highlighted the company’s rich history in building critical infrastructure for over 150 years and its extensive experience in hydroelectric and water management projects, which will further enhance Aecon's portfolio in power generation projects.
Aecon's notable hydroelectric projects include significant undertakings in British Columbia, such as the Site C Generating Station and Spillways Civil Works project, the Ladore Spillway Seismic Upgrade, the Waneta Dam Expansion, and the John Hart Dam Seismic Upgrade and Generating Station Replacement projects, all completed in partnership with BC Hydro. Additionally, Aecon has successfully delivered projects for Ontario Power Generation, including the Lower Mattagami Hydroelectric Complex and the Peter Sutherland Sr. Generating Station, which continue to serve Ontario’s energy requirements.
In the United States, Aecon is currently engaged in the Howard A. Hanson Dam Facility project in Washington State for the U.S. Army Corps of Engineers, alongside a growing portfolio across various sectors with a strategic focus on power infrastructure. Further details regarding the Mactaquac Life Achievement Project can be accessed on NB Power’s official website.

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