March 5, 2025 Cambridge, Ontario Natural Resources Canada
Nuclear energy plays a pivotal role in the Canadian energy supply, contributing vital non-emitting electricity to the grid in Canada. That's why the Government of Canada has been making strategic investments in nuclear energy at a time when there is a need for a resilient and secure energy supply and to ensure that Canada remains a global leader in the industry. Canada's homegrown CANDU technology serves as the backbone of its nuclear fleet and has been exported globally to support our allies to achieve energy security, all while creating good jobs here at home.
Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced that the Government of Canada 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.
CANDU reactors maintain an almost entirely Canadian-made, Canadian-designed supply chain through a consortium of Canadian companies, and they provide good-paying, long-lasting and sustainable jobs in manufacturing for Canadians. They are also fuelled by uranium mined in Saskatchewan without the need for enrichment. As countries look to secure safe sources of clean energy, demand for Canadian nuclear is growing. The Government of Canada is acting now to modernize Canadian-owned CANDU technology, which will provide a viable, cost-effective design in support of the expansion of nuclear energy capacity in Canada and internationally.
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.
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.
These significant investments highlight how the Government of Canada is working closely with the private sector and Canadian utilities and systems operators to meet the demands of increased clean electrification. Building on its foundational investment in CANDU technology, as well as emerging SMR opportunities, the Government of Canada will continue working with partners as we look to develop a comprehensive approach to nuclear energy policy for the country and act as an energy supplier of choice for the world.
