OTTAWA Canada is embarking on an ambitious plan to construct up to 10 new nuclear reactors within the next 15 years, as part of a broader strategy unveiled by Energy Minister Tim Hodgson. This initiative aims to enhance the country's nuclear capabilities, foster international sales of Candu reactors, and double uranium exports. Hodgson described the initiative as a plan for a “new civilian nuclear renaissance” that aligns with the federal government’s goal to double the electrical grid capacity by 2050.
During a news conference in Newmarket, Ontario, Hodgson emphasized the necessity of nuclear energy in transitioning to a low-carbon economy, asserting that “there is no credible plan to do that without nuclear energy and the clean, reliable baseload power it provides.” He underscored that Canada cannot achieve its vision of becoming an energy superpower without leveraging its existing energy advantages.
The proposed strategy outlines a phased approach to nuclear construction, with plans to begin building two large-scale reactors by 2035. Additionally, it aims to have five more reactors planned or in development by 2040, along with at least one reactor under construction outside Ontario by 2035. The strategy also includes a commitment to finalize a Canadian-made microreactor by 2035, with deployment to a remote community targeted for the late 2030s.
Government officials indicated that the total cost for constructing these new reactors could exceed $100 billion, although the strategy does not specify how this funding will be sourced. Furthermore, the plan seeks to expand the export market for Candu reactors, targeting entry into at least four new international markets by 2040 and engaging with six to ten additional countries over a 15-year horizon, reinforcing Canada’s position as a preferred partner in nuclear energy.
Currently, 30 Candu reactors are operational globally, located in countries such as South Korea, China, India, Argentina, Pakistan, and Romania, with two more in the pipeline. Notably, the strategy was developed without the involvement of Prime Minister Mark Carney, who, due to an ethics screen implemented upon taking office, was not privy to its contents. Carney had previously held options in both the Brookfield Corporation and Brookfield Asset Management, which competes with the Candu reactor model.
The emphasis on exporting Candu reactors is also part of a broader strategy to establish Canada as a reliable uranium supplier, utilizing nuclear energy as a means to enhance geopolitical relationships. The strategy states that reactor exports are not mere transactions; they forge long-term partnerships that support Canada’s broader foreign policy objectives.
As Canada looks to diversify its trading relationships and strengthen ties with other middle powers, the Candu reactor initiative is positioned as a critical tool in achieving these aims. Should Canada find challenges in increasing the global sales of Candu reactors, the strategy suggests exploring the enhancement of domestic uranium enrichment capabilities to support other reactor types.
Unlike many other nuclear reactors, Candu reactors do not require enriched uranium, and with Western allies reconsidering their reliance on Russia, a key supplier of enriched uranium, Canada is keenly aware of its unique position in addressing shifting demands. The strategy articulates that while developing domestic enrichment capabilities is still under consideration, enhancing partnerships with trusted allies will ensure Canada maintains its status as a leading uranium supplier and secure its fuel requirements for the future.
