29 Oct 2022 20:15 GMT
The Infrastructure Bank of Canada will finance the first small modular reactor in the North American country.
The Infrastructure Bank of Canada (CIB) will invest 710.7 million dollars in nuclear energy, which represents its largest investment in clean energy to date, according to a release published this Tuesday on its website.
Specifically, the CIB has reached an agreement with Ontario Power Generation (OPG) to finance the first Small Modular Reactor (SMR) in the North American country, which will have 300 megawatts and will be located at the Darlington nuclear power plant in Clarington (Ontario).
The text specifies that, once it is finished, at the end of this decade, it will avoid the emission of approximately 740,000 tons of greenhouse gases per year, the equivalent of what almost 160,000 gas cars generate.
They also detail that the project – which will create some 200 jobs – will not be the only one, as they have similar plans for the Canadian provinces of Saskatchewan, New Brunswick and Alberta, and they do not rule out doing the same in the US and Europe.
In this sense, it ensures that the SMR Darlington will support Canada’s efforts to become a world center for small modular reactor technology, in a market estimated at 110,000 million dollars by 2040.
“Today’s announcement represents a significant step towards the development of a zero-emissions electricity grid and a prosperous net-zero future,” said Jonathan Wilkinson, Canada’s Minister of Natural Resources. Likewise, he was convinced that this step will further improve the leadership of your country regarding nuclear technology.
Carbon-free energy from SMRs is a key pillar in OPG’s Climate Change Plan, which outlines its goals to become a net-zero carbon company by 2040 and a catalyst for achieving a net-zero economy by mid-2040. this century.