The Canada Infrastructure Bank (CIB) has finalised an agreement with Ontario Power Generation (OPG) and will provide CAD970m (US$708m) in financing to develop a 300 MW, grid-scale, small modular reactor (SMR), Canada’s first.
OPG is currently developing and constructing the SMR next to OPG’s existing 3.5 GW Darlington Nuclear Generating Station in Clarington, in the state of Ontario (eastern Canada). Once fully constructed (around the year 2030), the SMR will allow to avoid approximately 740,000 tCO2eq/year of greenhouse gas emissions. The nuclear power project is the first commercial grid-scale SMR among the G7 countries.
SMRs are a new class of nuclear reactors which are approximately 300 MW or less, have a smaller footprint and a shorter construction schedule, compared to traditional nuclear reactors.
At the end of 2021, nuclear represented 9% of Canada’s installed capacity with 13.5 GW and 15% of the country’s power generation with almost 93 TWh. Canada has 600 MW of nuclear capacity under development.
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