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Canada and Ontario Invest $3B in Small Modular Nuclear Reactors
The federal and Ontario governments have announced a joint investment of $3 billion to advance the construction of four small modular nuclear reactors (SMRs) at the Darlington Nuclear Generating Station site in Bowmanville, Ontario.
Prime Minister Mark Carney confirmed Ottawa will contribute $2 billion through the Canada Growth Fund, while Premier Doug Ford said Ontario will provide $1 billion via the Building Ontario Fund. The project, led by Ontario Power Generation, is expected to cost about $21 billion in total.
The Darlington New Nuclear Project has been designated as being in the national interest, allowing for fast-tracked approvals. Earlier this year, the Canadian Nuclear Safety Commission granted a licence to begin construction on the first SMR.
Supporters of the initiative say SMRs will provide reliable, emissions-free electricity, strengthen Canada’s clean energy leadership, and create thousands of jobs. Critics, however, caution about the high costs and long timelines associated with nuclear development.
If completed as planned, the Darlington SMRs would be the first of their kind in Canada, marking a significant step toward diversifying the country’s energy mix and reducing reliance on fossil fuels.
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