Canada unveiled a strategy on Monday to accelerate the development of nuclear power, setting out a goal of building up to 10 new large-scale reactors and streamlining approvals for future projects.
The strategy, announced by Natural Resources Minister Tim Hodgson, aims to have two new nuclear reactors under construction by 2035 and five more planned or under development by 2040.
While the strategy includes no new funding, the government said it will release a policy by April 2027 outlining conditions for federal support and the financing tools available for new nuclear projects
Approximately 13% of Canada’s electricity supply is generated by nuclear power.
Canada is the world’s second-largest uranium producer and home to the world’s largest high-grade uranium deposits.
Reporting by Amanda Stephenson in Calgary; Editing by Sanjeev Miglani
Source: Reuters