In 2023, 64 per cent of Aecon’s revenue in the year and 75 per cent of backlog at year-end was tied to sustainability projects. Aecon also expanded its growth in the U.S. and select international markets with a strategic focus on the energy transition. Supporting the growth, Oaktree Capital Management LP made a convertible preferred equity investment in Aecon Utilities.
Aecon added to its roster of energy transition projects including refurbishing additional units at the Bruce Nuclear Generating Station, delivering North America’s first grid-scale Small Modular Reactor at the Darlington nuclear site, and the Oneida Energy Storage project. Aecon was also awarded a contract for the replacement of condensers and feedwater heaters at the North Anna Power Station in Virginia.