Canada plans to build up to 10 new nuclear reactors by 2040
Energy Minister Tim Hodgson announced a federal nuclear strategy Monday that could cost more than $100 billion, with at least one reactor outside Ontario.
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Canada is planning a major expansion of nuclear energy, announcing a federal strategy Monday to build up to 10 new reactors over the next 15 years.
Energy Minister Tim Hodgson unveiled the plan, which officials say could exceed $100 billion in total cost. The strategy aims to more than double Canada's electricity production by 2050 and positions the country as a key player in enriched uranium exports as Western nations shift away from Russian supply. At least one of the new reactors will be built outside Ontario, broadening the technology's geographic footprint.
The announcement does not specify how Canada will fund the ambitious plan. The strategy also includes efforts to expand Candu reactor sales to new countries, strengthening Canada's position in global nuclear markets. Prime Minister Mark Carney was not shown the strategy and had no role in developing it due to an ethics screen he maintains—Brookfield, a company Carney previously held stock options in, co-owns a reactor that competes with Candu technology.
