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Canada Plans 'Nuclear Renaissance' With Up To 10 Reactors Built By 2040

Canada has unveiled a national strategy to build up to 10 new nuclear reactors over the next 15 years as it seeks to double electricity-grid capacity by 2050. Energy Minister Tim Hodgson called it a plan for a "new civilian nuclear renaissance." "If our goal is to double our grid and build a low-carbon economy in less than 25 years, there is no credible plan to do that without nuclear energy and the clean, reliable baseload power it provides," Hodgson said. "There is no credible plan for Canada to become an energy superpower if we choose not to build upon one of the strongest energy advantages we have." CBC News reports: The strategy calls for construction to start on two new large-scale reactors by 2035, for five more to be planned or under development by 2040 and for at least one reactor to be under construction outside Ontario by 2035. It also calls for a Canadian-made microreactor to be finalized by 2035 and deployed to a remote community by the late 2030s. [...] Right now, Canada has four nuclear power plants -- three in Ontario and one in New Brunswick -- which generate about 15 per cent of Canada's electricity. A new proposed facility at the existing nuclear plant in Darlington, Ont., would see the first small modular reactor in the G7, capable of producing up to 300 megawatts per unit. Saskatchewan is also looking at the potential to bring small nuclear reactors online by the mid 2030s. The energy deal between Ottawa and Alberta also committed to collaborating on developing a strategy to build a nuclear power plant. Officials from Natural Resources Canada told reporters in a background briefing that construction of the reactors outlined in the new national strategy could cost more than $100 billion. The strategy does not say how Canada would pay for them, though an official pointed to the Canadian Infrastructure Bank and the Canada Growth Fund as possible funding sources. Hodgson said the strategy would double the 90,000 jobs in Canada's nuclear sector "over the coming decades." The plan also looks to expand sales of Candu reactors to new export markets. It says the government wants to break into at least four new international markets by 2040 and "engage six to 10 new nuclear entrant markets over a 15-year horizon, cementing Canada as their partner of choice." Thirty Candu reactors currently operate around the world, including in South Korea, China, India, Argentina, Pakistan and Romania, and there are plans to build two more. [...] "Reactor exports are not transactional. They establish multi-decade partnerships, creating durable geopolitical and commercial relationships that advance Canada's broader foreign policy interests," the strategy says. "As Canada works to diversify its trading relationships and strengthen ties with middle powers, Candu can be a central instrument of that strategy."