$74 Million in Funding for Development of Small Nuclear Reactor in Province
Over the weekend, Federal Minister of Energy and National Resources, Jonathan Wilkinson, shared that there will be $74 million in funding aimed at bolstering Saskatchewan’s efforts to develop a small nuclear reactor.
The driving force behind this is the pursuit of non-emitting nuclear technologies, which Minister Wilkinson believes will propel the province into a future that optimizes its uranium production capacity, generating employment opportunities and ensuring a reliable, affordable, and emission-free power supply for residents.
The designated funding is earmarked for the potential construction of a small nuclear reactor, or SMR, with the express purpose of advancing decarbonization efforts. SaskPower initially unveiled the project in June 2022, selecting the GE-Hitachi BWRX-300 reactor design.
These SMRs, known for their scalability and adaptability, typically produce 300 megawatts of electricity or less. Their versatility renders them suitable for a wide spectrum of applications, including integration into established large grids, small grids, remote off-grid communities, and resource-driven projects, as stipulated by the provincial authorities. It’s projected that a 300-megawatt SMR could annually generate the clean electricity needed to power as many as 300,000 households.
The newly announced federal funds encompass a substantial contribution of $50 million from Natural Resources Canada, along with an additional $24 million from Environment and Climate Change Canada. This financial backing serves as a testament to the commitment toward greener energy solutions.
While the federal administration is steadfast in its goal to achieve a net-zero power grid by 2035, the Saskatchewan government has established its own target year of 2050.
However, essential aspects of the project remain pending. The specific location for the proposed reactor remains undetermined, and a final decision from the Saskatchewan government is not slated until 2029.
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