Ontario plans more nuclear reactors to meet rising electricity demand

Aecon

07/07/2023 17:00

By Ismail Shakil
       OTTAWA, July 7 (Reuters) - Ontario plans to build three
new small modular reactors (SMRs) to help meet rising
electricity demand, the provincial government said on Friday,
increasing its bet on the new nuclear technology Canada is
counting on to help reduce emissions.
    The Ontario government is working with utility Ontario Power
Generation (OPG) to start planning and licensing the reactors at
the Darlington nuclear site, where Canada's first grid-scale SMR
is already under construction.
    "A fleet of SMRs at the Darlington New Nuclear Site is key
to meeting growing electricity demands and net zero goals," OPG
CEO Ken Hartwick said in a statement.
    Nuclear reactor construction requires provincial and federal
regulatory approvals, and the three additional SMRs could come
online between 2034 and 2036, according to the statement.
Ontario is Canada's most populous province and home to finance
capital Toronto.
    The expansion "will ensure we have the reliable, affordable
and clean electricity we need to power the next major
international investment, the new homes we are building and
industries," Ontario's Energy Minister Todd Smith said in the
statement.
    An energy crisis triggered by the Ukraine war as well as a
global push toward lowering emissions has renewed interest in
nuclear power. Next-generation SMRs are seen as an efficient,
quickly-built way to accelerate the shift away from fossil fuels
as G7 nations target net-zero emissions by 2050.
    Canada has already backed SMR technology with a C$970
million ($730.04 million) financing pledge for OPG's first
reactor at Darlington.
    Nuclear power currently provides about 50% of Ontario's
electricity supply and the four SMR units are expected to
produce a total 1,200 megawatts (MW) of electricity, enough to
power 1.2 million homes.
    OPG's first SMR unit, being constructed in partnership with
GE Hitachi Nuclear Energy, SNC-Lavalin, and Aecon, is expected
to be completed by 2028. 


($1 = 1.3287 Canadian dollars)

 (Reporting by Ismail Shakil in Ottawa; Editing by David
Gregorio)
 ((ismail.shakil@tr.com;))