Canada Unveils $490-Million Push Towards Nuclear Energy
A massive push towards nuclear in Canada is set after several investments have been announced by Minister of Energy and Natural Resources Jonathan Wilkinson. Wilkinson is pushing what the government describes as “crucial steps towards clean, affordable, and homegrown nuclear technology.”
Central to Canada’s nuclear revival is a $304 million joint investment with engineering firm AtkinsRéalis to advance the next generation of Canada’s signature CANDU reactor. The initiative aims to refine the standard design of this Canadian-developed reactor technology.
Also key to Canada’s nuclear expansion involves small modular reactors, which provide scalable and versatile solutions for regional power needs. Ontario Power Generation received $55 million through the Future Electricity Fund to develop pre-construction activities for three SMRs at its Darlington facility.
Saskatchewan also received a substantial $80 million investment for SMR predevelopment. Managed by SaskPower through Saskatchewan’s Crown Investments Corporation, the project will focus on technical, regulatory, and community engagement tasks.
In Alberta, Capital Power Limited Partnership secured $13 million to evaluate potential SMR locations in the province, alongside a notable $8.3 million investment in the Peace Region for preliminary work on a large-scale nuclear facility with a potential capacity of 4,800 MW.
Western University in London, Ontario, received nearly $5 million to study advanced nuclear fuels, specifically the TRi-structural ISOtropic or TRISO fuel type. Canadian Nuclear Laboratories, situated in Chalk River, Ontario, was awarded over $3.5 million to establish new standards and strategies for SMR deployment across Canada, aiming to optimize waste management.
Additionally, the Saskatchewan Industrial and Mining Suppliers Association received approximately $2.8 million to assess and enhance the province’s nuclear supply chain readiness, explicitly incorporating Indigenous businesses.
Complementary to nuclear advancements, the Alberta Electric System Operator secured $18.5 million to develop IT infrastructure capable of managing increased complexity arising from clean electricity generation. Alberta is also investing $1.3 million in the Tent Mountain Pumped Hydro Energy Storage Project near Coleman for advancing integrated clean energy storage solutions alongside nuclear development.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
