Canada unveils strategy to boost nuclear energy development
According to the strategy, Canada plans to enable the construction of up to 10 new large-scale nuclear reactors across the country.
A draft policy on federal financing of new nuclear power projects will be released by April 2027, the department said, adding that the country envisions doubling its uranium exports by 2035 compared with 2024 levels.
OTTAWA - Canada on Monday released a new strategy to boost its nuclear energy development, according to Natural Resources Canada, the federal department responsible for the development and use of the country's natural resources.
According to the strategy, Canada plans to enable the construction of up to 10 new large-scale nuclear reactors across the country. Among them, two reactors are scheduled to be under construction by 2035, with an additional five either planned or under development by 2040.
The strategy also outlines plans to advance the deployment of small modular reactors and demonstrate a Canadian microreactor by 2035 for deployment to remote communities in the late 2030s.
The strategy sets a target of securing Canada's Deuterium Uranium (CANDU) technology in at least four new international markets by 2040. It also aims to engage with six to 10 new nuclear entrant markets over a 15-year horizon.
Currently, nuclear power generates approximately 13 percent of Canada's electricity. The country operates 17 CANDU reactors across Ontario and New Brunswick. Canada's nuclear technology is also powering 26 reactors across six countries.