Canada’s first ever National Nuclear Energy Strategy sets an ambitious target of up to 10 new reactors over the next 15 years, with officials acknowledging the build-out could cost more than $100 billion. The federal government has not specified how that bill would be paid.
Released Monday by Energy Minister Tim Hodgson, the strategy calls for two new large-scale reactors to break ground by 2035, with five more planned or under development by 2040. At least one of those reactors must be under construction outside Ontario before 2035.
A Canadian-made microreactor meanwhile is expected to reach design completion by 2035, with a target of powering a remote community before 2040.
“We are moving at speeds not seen in generations to get big things done and leveraging pre-existing strengths to become a modern energy superpower. Canada has long been a nuclear leader — and we will continue to lead, under our new Nuclear Energy Strategy,” stated Hodgson in a government-issued press release.
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The plan frames nuclear as non-negotiable for meeting Canada’s grid ambitions. The government has set a goal of doubling the country’s total electricity capacity by 2050, and officials argue there is no credible path to that target without nuclear providing clean baseload power. Nuclear currently accounts for 13 percent of Canada’s electricity supply, generated by 17 CANDU reactors operating in Ontario and New Brunswick.
Beyond domestic expansion, the strategy doubles as a foreign policy document. Ottawa is targeting entry into at least four new international export markets for CANDU reactors by 2040, while aiming to engage six to ten new nuclear entrant countries over a 15-year horizon. The strategy is explicit about the geopolitical intent, in that reactor exports create multi-decade partnerships that serve Canada’s broader foreign policy interests, particularly as Western allies work to reduce dependence on Russian enriched uranium.
CANDU technology runs on unenriched uranium, unlike most reactor designs, a meaningful advantage given Canada’s standing as the world’s second-largest uranium producer, responsible for roughly 24 percent of global output in 2024.
The strategy also targets doubling the nuclear workforce by 2050. The sector currently supports 90,000 direct and indirect jobs, with 90 percent of roles in the industry classified as high-skilled.
The Darlington New Nuclear Project, already referred to the Major Projects Office by Prime Minister Mark Carney in September 2025, is positioned as a centrepiece and is slated to become the G7’s first small modular reactor deployment. The Canada Growth Fund and the Building Ontario Fund have each committed funding to the project, with contributions of up to $2 billion and $1 billion respectively.
The strategy was developed without Carney’s input, as he was not shown the document, due to an ethics screen tied to his holdings in Brookfield entities that compete with CANDU technology.
Should CANDU export ambitions fall short, the strategy leaves open the possibility of developing domestic uranium enrichment capability to fuel other reactor designs, though that decision remains under assessment.
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