The federal government’s new nuclear energy plan could help cement Canada’s role as a global nuclear leader, according to an industry analyst.
“I think the plan makes it unequivocal that the Canadian government is looking at nuclear both as an integral part of our energy security and our economic security going forward,” Vivan Sorab, senior manager of Clean Technology at the RBC Climate Action Institute, told CTV’s Your Morning on Monday.
“The Canadian government is trying to propel Canada’s already impressive nuclear industry into a new energy era.”
In June, the federal government unveiled its new Nuclear Energy Strategy for Canada. With a stated goal of unlocking Canada’s “full potential as an energy superpower,” Ottawa aims to double uranium exports, export more nuclear technology, and construct up to 10 new nuclear reactors in the country. The federal government previously declared that it wants to double Canada’s electricity grid by 2050.
“Expanding nuclear capacity at home delivers firm, clean electricity for a grid facing decades of demand growth, reinforces energy security, and creates high-quality employment in communities and regions across the country,” the nuclear plan explains.
“Growing Canada’s presence in global nuclear markets generates durable bilateral partnerships, advances trade diversification, and positions Canadian firms and technologies at the centre of one of the most consequential infrastructure build-outs of the coming decades.”
Canada – which is already the world’s second largest uranium producer – also wants to expand uranium production while working to advance nuclear reactor technology, including smaller modular reactors.
Uniquely designed to run on natural uranium, Canada’s CANDU nuclear reactors are already providing power domestically and in five other countries: South Korea, China, Romania, Argentina and India.
“Canadian nuclear is already pretty strong on the world stage,” Sorab said. “CANDU technology in general, does not rely on uranium enrichment, which is a very valuable asset, given the geopolitical risk inherent within enrichment supply chains.”
