Canada aims 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. The new national strategy for nuclear power, described by Hodgson as a blueprint for a “new civilian nuclear renaissance,” aligns with the government’s objective to double the nation’s electrical grid capacity by 2050.
Hodgson emphasized the indispensable role of nuclear energy in achieving the country’s target of enhancing the grid’s capacity and fostering a low-carbon economy. He stressed that nuclear power is essential for providing clean and reliable baseload power, stating that without it, Canada would not be able to leverage one of its most robust energy assets.
The strategy outlines plans to commence construction on two large-scale reactors by 2035, with an additional five reactors in the planning or development stages by 2040. Moreover, it envisions at least one reactor being built outside Ontario by 2035 and aims to deploy a Canadian-made microreactor to a remote community by the late 2030s.
Conservative Leader Pierre Poilievre expressed skepticism about the plan, noting that announcements alone do not translate into tangible results. Currently, Canada operates four nuclear power plants, contributing approximately 15% of the nation’s electricity. Additionally, a proposed facility at the Darlington nuclear plant in Ontario is set to house the G7’s first small modular reactor, capable of generating up to 300 megawatts per unit.
Furthermore, the agreement between Ottawa and Alberta includes collaboration on developing a nuclear power plant strategy. The construction of the reactors outlined in the strategy is estimated to exceed $100 billion, with potential funding sources identified as the Canadian Infrastructure Bank and the Canada Growth Fund.
The strategy also emphasizes expanding the export of Candu reactors to new markets to solidify Canada’s position as a dependable uranium export partner. It aims to enter at least four new international markets by 2040 and engage with six to ten emerging nuclear markets over a 15-year period.
The document clarifies that Prime Minister Mark Carney was not involved in the strategy’s development due to an ethics screen in place to prevent conflicts of interest. Efforts to sell Candu reactors globally are intended to establish enduring geopolitical and commercial relationships, positioning Canada as a key player in the nuclear energy sector.
In the event of challenges in selling more Candu reactors globally, the strategy suggests exploring increased domestic uranium enrichment to support other reactors. Unlike conventional nuclear reactors, Candu reactors do not necessitate enriched uranium, offering an advantage amidst shifting global dynamics.
The strategy reiterates a proposal to transfer impact assessments for nuclear projects from the Impact Assessment Agency of Canada to the Canadian Nuclear Safety Commission. While the proposal remains under consultation, the government is extending the consultation period following feedback from environmental and Indigenous groups.
Poilievre emphasized the need for tangible outcomes rather than promises, advocating for streamlining regulations to facilitate the production of affordable and sustainable energy nationwide.