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Government allocates $50 million to boost Ontario’s nuclear energy expansion

In a bid to bolster Ontario’s clean energy landscape, the Canadian government has announced a significant investment of up to $50 million to support the expansion of nuclear energy initiatives in the province. This collaborative effort between the federal and provincial governments aims to harness the potential of clean, reliable, and affordable nuclear power while fostering job creation and economic prosperity.

For decades, Canada and Ontario have been at the forefront of nuclear technology, providing a sustainable energy source and employment opportunities for thousands of Canadians. Now, with over 75,000 dedicated workers contributing to the nuclear supply chain, the governments are doubling down on their commitment to propel Ontario’s nuclear sector to new heights.

During the Canadian Nuclear Association conference, the Honourable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, unveiled plans for a $50 million investment in Bruce Power’s assessment of new generation opportunities at its site in Tiverton, Ontario. This funding, sourced from the federal Electricity Pre Development Program, will support the exploration of a project capable of powering up to 4.8 million homes and businesses across Ontario.

The project, which marks the first large-scale nuclear build in Canada in over 30 years, aligns with Ontario’s clean electricity goals outlined in the ‘Powering Ontario’s Growth Initiative’. It represents a crucial step toward meeting Ontario’s future energy demands while reducing emissions and ensuring a sustainable energy grid.

The investment will empower Bruce Power to conduct vital pre-development activities, including Impact Assessment and Licence to Prepare Site applications, community engagement efforts and technical evaluations. These initiatives will pave the way for job creation and economic growth in Bruce, Grey and Huron counties, as well as across the broader Canadian nuclear industry.

Michael W. Rencheck, President and Chief Executive Officer of Bruce Power, emphasized the significance of federal funding in supporting early Indigenous and community engagement and laying the groundwork for clean-energy projects that align with climate goals.

The collaboration between the Canadian and Ontario governments underscores their shared commitment to advancing clean energy solutions and fostering economic prosperity. By leveraging the strengths of the nuclear industry and prioritizing innovation, both levels of government are paving the way for a sustainable, prosperous future for Ontario and all Canadians.

Quick Facts:

  • Ontario’s Independent Electricity System Operator’s Pathways to Decarbonization Report highlights the need for up to 17,800 MW of nuclear capacity in Ontario by 2050 to meet clean electricity needs.
  • Nuclear energy accounts for 14 percent of Canada’s electricity and over 50 percent in Ontario.
  • The nuclear sector in Canada prevents approximately 45 million metric tonnes of carbon dioxide emissions each year.

Source: Government of Ontario