Ottawa to make major investments in nuclear projects in Cambridge and Clarington, Ontario [Video]

Ottawa has entered into a preliminary agreement with AtkinsRéalis to design a new, large-scale, natural uranium–fuelled CANDU nuclear reactor.

The conceptual design of the 1,000 megawatt Candu Monark, a Generation III+ reactor was unveiled in November 2023 and AtkinsRéalis plans to complete the preliminary engineering by 2027.

Federal Energy Minister Jonathan Wilkinson was in Cambridge Thursday to make the announcement, which will see Ottawa lend AtkinsRéalis a maximum of $304 million over four years to finance half of the design project. The work will also include Atomic Energy of Canada Limited and the broader Canadian supply chain.

AECL owns the CANDU intellectual property and is working with AtkinsRéalis to leverage it for success in today’s energy markets.

“Nuclear is an integral part of Canada’s resilient and independent energy future, and CANDU technology is helping us get there, while creating good domestic jobs and supporting international Canadian energy exports,” said Wilkinson. …