UPDATE: Aecon Group Awarded Biomass Power Contract; Shares Up 1.5% Late Morning

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Aecon Group Inc. (ARE.TO) announced that Ontario Power Generation (OPG) has signed a contract awarding Aecon's Industrial division design and construction work for the Atikokan Generating Station ( GS ) biomass conversion project.

Aecon will be responsible for the design and construction of the fuel handling and storage systems for the generating station conversion. The value of the contract is approximately half of the $170 million project.

The Atikokan GS will be one of the largest biomass plants in North America, with more than 200 MW of capacity. It will generate renewable, dispatchable, peak capacity power. This project will include plant modifications and the construction of a fuel storage and handling system to manage the biomass fuel. The converted facility will provide renewable electricity generation from a sustainable fuel recognized as beneficial to climate change mitigation.

Aecon is now trading at $12.69, up 18 cents.



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Referenced Stocks: GS

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