Bank Invests $700M to Build Canada's First Small Nuclear Reactor
Bank Invests $700M to Build Canada's First Small Nuclear Reactor
Abstract
The Canada Infrastructure Bank will provide $717 million in financing to pay for construction of the 300-MW SMR at the site of the Darlington Nuclear Generating Station in Ontario. The bank loan is part of a larger effort by Canada to position itself as a leader of cutting-edge nuclear technology as demand grows for non-carbon emitting forms of power. Ontario Power Generation hopes to open the new plant in 2028. The project is expected to deploy 700 people. The SMR is expected. The new plant is scheduled to open in late 2024 or early 2025. The final price tag could run into the $1,000-a-year-to-the-millions.
