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The Government of Canada announced that it has entered into a preliminary agreement with AtkinsRéalis to support the development and modernization of a new, large-scale, natural uranium–fuelled Canadian deuterium uranium (CANDU) nuclear reactor (e.g. MONARK). The intent is to lend AtkinsRéalis a maximum of $304 million over four years to finance half of the design project. This modernization work will also include Atomic Energy of Canada Limited (AECL), the operators and the broader Canadian supply chain. Specifically, AECL owns the CANDU intellectual property and is working with AtkinsRéalis to leverage it for success in today’s energy markets. “Nuclear is an integral part of Canada’s resilient and independent energy future, and CANDU technology is helping us get there — while creating good domestic jobs and supporting international Canadian energy exports. By advancing innovative projects like MONARK reactors, this government is reinforcing our commitment to domestically sourced and processed uranium, which is creating good-paying jobs in Ontario and throughout the country. And through investments in the Darlington New Nuclear project and SMRs in Alberta, we are providing a powerful example of how public and private sectors can work together to enhance energy security; advance cutting-edge, made-in-Canada nuclear technologies; and deliver a clean and reliable energy future,” said Jonathan Wilkinson, Minister of Energy and Natural Resources. The Government of Canada announced that it has entered into a preliminary agreement with AtkinsRéalis to support the development and modernization of a new, large-scale, natural uranium–fuelled Canadian deuterium uranium (CANDU) nuclear reactor (e.g. MONARK). The intent is to lend AtkinsRéalis a maximum of $304 million over four years to finance half of the design project. This modernization work will also include Atomic Energy of Canada Limited (AECL), the operators and the broader Canadian supply chain. Specifically, AECL owns the CANDU intellectual property and is working with AtkinsRéalis to leverage it for success in today’s energy markets. “Nuclear is an integral part of Canada’s resilient and independent energy future, and CANDU technology is helping us get there — while creating good domestic jobs and supporting international Canadian energy exports. By advancing innovative projects like MONARK reactors, this government is reinforcing our commitment to domestically sourced and processed uranium, which is creating good-paying jobs in Ontario and throughout the country. And through investments in the Darlington New Nuclear project and SMRs in Alberta, we are providing a powerful example of how public and private sectors can work together to enhance energy security; advance cutting-edge, made-in-Canada nuclear technologies; and deliver a clean and reliable energy future,” said Jonathan Wilkinson, Minister of Energy and Natural Resources. In addition to investing in this foundational, domestic, large-scale nuclear technology, Canada is also leveraging opportunities for international collaboration on emerging technologies, including small modular reactors (SMRs). Minister Wilkinson, on behalf of the Honourable Steven Guilbeault, Minister of Environment and Climate Change, also announced $55 million in funding from Environment and Climate Change Canada’s Future Electricity Fund (FEF) to support Ontario Power Generation’s Darlington New Nuclear Project. The next phase of the Darlington project will focus on advancing three new GE Hitachi BWRX-300 SMRs, which produce zero greenhouse-gas emissions during operation. As each GE Hitachi BWRX-300 SMR produces about 300 megawatts of electricity, the three SMRs together could supply enough electricity needed to power about 900,000 homes. The Minister also announced that the FEF has increased program funding from $24 million to $80 million to the Saskatchewan Government’s Crown Investments Corporation in support of SaskPower’s SMR pre-development work. It will support pre-engineering work and technical studies, environmental assessments, regulatory studies and community and Indigenous engagement to help advance this important project. “As first mover in the G7 on small modular reactors, OPG’s Darlington New Nuclear Project will create approximately 17,000 jobs in Ontario and 10,000 more across Canada during manufacturing and construction. The Darlington SMR project will further cement Ontario and Canada’s robust nuclear supply chain, creating additional growth opportunities domestically and internationally, as jurisdictions seek to increase energy security and reliability,” said Nicolle Butcher, president and CEO, Ontario Power Generation. Minister Wilkinson also highlighted a total investment of $52.4 million for various projects supporting the development and deployment of SMRs and CANDU reactors and decarbonization efforts in Saskatchewan, Alberta and Ontario. Saskatchewan and Ontario are already nuclear energy leaders, and this investment will help bolster their presence for the benefit of Canada while helping develop new capacity in Alberta. The funding includes $11.4 million from the Enabling SMRs Program for three projects and $41 million for four projects under NRCan’s Electricity Predevelopment Program. “We are honoured to have the full faith and confidence of the Government of Canada in continuing our development of proven home-grown CANDU technology. For over a decade, we have been the proud steward of CANDU technology, successfully meeting the world’s growing low-carbon energy needs. With our CANDU-based supply chain partners, we have serviced, life-extended and refurbished CANDU nuclear reactors on time and on budget and advanced the prospects for new CANDU reactors. The federal government’s decision today — to invest in the further development of CANDU technology, an evolution of the proven Darlington reactor model — will enable us to continue this important work already underway with our utility partners. Advancing CANDU technology creates economic value for the country and Canadians; ensures energy security at this critical time; improves health outcomes through the creation of more cancer-fighting isotopes; builds stronger and more resilient relationships with Indigenous Peoples, workers and communities; and — above all —maintains Canada’s status as a Tier-1 nuclear nation,” said Ian Edwards, president and CEO, AtkinsRéalis. |
