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SNC finally buys AECL July 10, 2011

Posted by Maury Markowitz in AECL, nuclear.
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In what has to be one of the best deals in history, SNC-Lavalan just picked up the reactor design division of AECL for a mere $15 million. If that weren’t a great enough deal, the government kept all the debts! Wow, Canadian taxpayer, FTW!

SNC is claiming that at least one 900 MW class reactor is going to be built in Ontario, with the wink-shrug that they’re going to win it. The funny thing is, AECL doesn’t have a 900 MW reactor on offer right now, just the 735 MW EC6 and the now-dead 1200 MW ACR-1000 that failed to win the contract last time.

Interesting indeed, but I suspect there’ll be no information on this until the next press release. Oh, and here it is… So basically the deal is this, SNC pays the government $15 million, they immediately get paid $75 million for doing so, and on top of that the government keeps all the debts. Wow!

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