Almost $1 billion will fund the construction of the country’s first small modular reactor
Canada Infrastructure Bank (CIB) has reached a deal with a major generating company to provide $970 million to fund the construction of the country’s first small modular reactor (SMR). The announcement was made by Canadian Natural Resources Minister Jonathan Wilkinson on Tuesday.
“We are doing this because nuclear energy – as a non-emitting source of energy – is critical to the achievement of Canada’s and the world’s climate goals…
Nuclear power is one source that can help in reaching our climate targets while addressing growing future demand,” Wilkinson said about the deal, as cited by Reuters.
Canada intends to reduce greenhouse gas emissions to zero by 2050, and views SMR technology as a key part of this aim.
The funding for the project will come in the form of a low-interest loan from the CIB, which will go toward the preparatory work, including…
