Canada is doubling down on its nuclear prowess, injecting a significant boost into its iconic CANDU reactor technology. The move, backed by substantial government investment, is set to reshape the country’s energy landscape and bolster its global standing in nuclear power. The recent preliminary agreement between the Canadian Government and AtkinsRéalis to develop a new large-scale CANDU reactor, dubbed MONARK, signals a bold stride towards modernising and expanding this reliable and efficient technology.
The Canadian Government is committing up to $304 million over four years to support AtkinsRéalis’ design project for the next-generation CANDU reactor. This initiative will engage Atomic Energy of Canada Limited (AECL), operators, and the broader Canadian supply chain, ensuring a collaborative effort to advance this homegrown technology. The CANDU reactor, known for its natural uranium fuel and Canadian design, has been a cornerstone of Canada’s energy infrastructure and has found its way into numerous countries seeking clean and reliable energy solutions.
Ian Edwards, President and Chief Executive Officer at AtkinsRéalis, expressed his enthusiasm for the project, stating, “We are honoured to have the full faith and confidence of the Government of Canada in continuing our development of proven homegrown CANDU technology.” He highlighted the economic value, energy security, and health benefits that advancing CANDU technology brings, along with its role in maintaining Canada’s status as a Tier-1 nuclear nation. The modernisation of CANDU reactors will not only strengthen Canada’s energy security but also support its allies in transitioning to cleaner electricity generation.
Beyond the CANDU reactor advancements, Canada is also investing in emerging nuclear technologies like small modular reactors (SMRs). Minister Wilkinson announced $55 million in funding from the Future Electricity Fund to support Ontario Power Generation’s Darlington New Nuclear Project. This project will advance three GE Hitachi BWRX-300 SMRs, each capable of generating 300 megawatts of zero-emission electricity – enough to power approximately 900,000 homes. Additionally, funding for Saskatchewan’s SaskPower SMR development has increased from $24 million to $80 million, supporting pre-engineering studies, environmental assessments, and community engagement efforts.
Minister Wilkinson emphasised the integral role of nuclear energy in Canada’s resilient and independent energy future, stating, “Nuclear is an integral part of Canada’s resilient and independent energy future, and CANDU technology is helping us get there — while creating good domestic jobs and supporting international Canadian energy exports.” He also highlighted the government’s commitment to domestically sourced and processed uranium, which is creating good-paying jobs in Ontario and throughout the country.
The Government of Canada is also investing $52.4 million in projects that support the development and deployment of both CANDU reactors and SMRs across Saskatchewan, Alberta, and Ontario. These investments aim to decarbonise energy grids, expand nuclear capacity, and position Canada as a global leader in clean energy solutions. By modernising CANDU reactor technology and supporting SMR innovation, the country is paving the way for a cleaner, more secure energy landscape.
This news shapes the development in the sector by reinforcing Canada’s commitment to nuclear energy, a move that could inspire other nations to follow suit. The significant investments in both CANDU reactors and SMRs demonstrate Canada’s dedication to advancing nuclear technology, ensuring energy security, and supporting a sustainable future. As the world grapples with the challenges of climate change and energy transition, Canada’s bold steps in nuclear power could serve as a blueprint for other countries seeking to balance energy needs with environmental responsibility. The ripple effects of these investments could be profound, potentially accelerating the global shift towards cleaner, more reliable energy sources and fostering international collaboration in nuclear technology development.
