OTTAWA — The federal government has announced it will spend $50 million to support efforts to research new nuclear power generation opportunities at its site in Tiverton, Ont.
The funding comes from the federal Electricity Predevelopment Program. It is estimated the project could produce power for up to 4.8 million homes and businesses in Ontario, stated a release.
The project would be the first large-scale nuclear build in Canada in more than 30 years and represents more than 25 per cent of the new nuclear capacity required for Ontario to meet its clean electricity needs in 2050, as recommended by Ontario’s Pathways to Decarbonization Report.
Bruce Power will use the federal funding to support project pre-development work, including the completion of an Impact Assessment and Licence to Prepare Site application; early engagement activities with local municipalities and Indigenous communities; and technical, environmental and engineering studies and evaluations.
The spending follows another recent federal funding initiative in the sector, the announcement of a $970-million allocation from the Canada Infrastructure Bank to advance Canada’s first grid-scale small modular reactor at Ontario Power Generation’s Darlington site.
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