Canada Unveils Plans for Nuclear Expansion to Boost Energy Affordability, Security
The Canadian government on Monday unveiled its nuclear energy strategy which outlines plans to strengthen energy affordability, security and sustainability at home and abroad by investing in nuclear power and uranium production."A key complement to Canada's recently released National Electricity Strategy, this new strategy targets doubling our workforce by 2050, catalyzing billions in private investment and enabling generational investments in this key strategic asset," according to a statement issued by Natural Resources CanadaCanada aims to build up to 10 new reactors, with two scheduled to be under construction by 2035 and five more planned or being developed by 2040, according to media reports.Currently, nuclear power provides 13% of Canada's electricity from 17 Canada Deuterium Uranium, also called CANDU, reactors in Ontario and New Brunswick.Atomic power also contributes $22 billion to the country's economy each year through the operation of these 17 reactors in Canada and support for nine reactors overseas, including in Romania, India, and South Korea, the statement said.The strategy aims to keep Canada self-reliant in reactor technologies and nuclear energy supply chains, ensure availability of an updated CANDU reactor design, and advance projects such as the Darlington New Nuclear Project, which is expected to be the first small modular reactor deployment in the G7."We will start by building on what we have, including CANDU reactor technology, world-class uranium deposits in Saskatchewan, a top-tier Canadian nuclear workforce and supply chain, proven refurbishment expertise, medical isotopes and other nuclear innovations," the statement added.Canada is the second-largest producer of uranium having accounted for 24% of the global output in 2024, with all active uranium mining and milling concentrated in Saskatchewan.About 90% of this production is exported for use as fuel in nuclear power plants, the statement said.
