Canada’s Ontario province has set out new plans for a significant expansion of it’s nuclear energy capacity, including:
- 3 additional small modular reactors (SMRs), for a total of four SMRs at the Darlington nuclear site, to power 1.2million homes
- pre-development work for the first large-scale nuclear build in 30 years at the Bruce Power nuclear generating station
The expansion at Bruce Power would mean the plant was generating 11GW of electricity. Currently, Japan’s Kashiwazaki-Kariwa plant is the biggest in the world with 8GW of capacity.
“A fleet of SMRs at the Darlington New Nuclear Site is key to meeting growing electricity demands and net zero goals”— Ken Hartwick, OPG President and CEO
The large net increase in global nuclear reactors, which require uranium as fuel, will positively impact the uranium market which our reports forecasts is at the start of a 10-year bull market.