Canada is planning to construct up to 10 new nuclear reactors within the next 15 years, expand the sale of Canadian-made reactors globally, and double uranium exports, according to Energy Minister Tim Hodgson. This initiative, revealed in a new national strategy for nuclear power, aims to propel a “new civilian nuclear renaissance” as part of the government’s strategy to double the country’s electrical grid capacity by 2050.
Hodgson emphasized that nuclear energy is essential for achieving the goal of doubling the grid and establishing a low-carbon economy in under 25 years due to its provision of clean and reliable baseload power. He stressed the significance of capitalizing on Canada’s existing energy strengths to elevate the nation as an energy superpower.
The strategy outlines the commencement of construction for two large-scale reactors by 2035, planning for an additional five reactors by 2040, and the initiation of at least one reactor construction outside Ontario by 2035. Furthermore, it envisions the development and deployment of a Canadian-made microreactor to a remote community by the late 2030s.
Conservative Leader Pierre Poilievre expressed skepticism towards the plan, stating that announcements alone do not translate into tangible results. Presently, Canada operates four nuclear power plants, with a proposed facility at the Darlington nuclear plant in Ontario set to introduce the first small modular reactor in the G7 with a capacity of up to 300 megawatts per unit.
The collaboration between Ottawa and Alberta in the energy deal includes efforts to devise a strategy for constructing a nuclear power plant. Officials estimated that the construction of the outlined reactors could exceed $100 billion, with funding possibilities including the Canadian Infrastructure Bank and the Canada Growth Fund.
The strategy also aims to expand the export of Candu reactors to new international markets to solidify Canada as a trusted uranium export partner and leverage nuclear energy for geopolitical influence. The strategy highlights the long-term partnerships established through reactor exports as crucial for advancing Canada’s foreign policy objectives and enhancing trading relationships.
The document underscores that Prime Minister Mark Carney was not involved in developing the strategy due to an ethics screen in place to maintain impartiality. It also considers the potential need to enhance domestic uranium enrichment should global sales of Candu reactors not meet expectations, particularly as Western allies seek alternatives to Russian enriched uranium.
Lastly, the strategy reaffirms the proposal to transfer impact assessments for nuclear projects to the Canadian Nuclear Safety Commission and addresses the ongoing consultation process to implement this change. Poilievre emphasized the necessity of focusing on tangible outcomes rather than promises to enhance energy production across Canada effectively.
