Canada’s Minister of Energy and Natural Resources, Tim Hodgson, has released Canada’s Nuclear Energy Strategy. Nuclear energy contributes 13% of Canada’s electricity supply and adds CAD22bn ($15.54bn) to Canada’s economy every year through the operation of 17 Canadian Candu reactors at home and the servicing of nine reactors abroad in countries such as Romania, India, Argentina and South Korea. The nuclear sector is backed by a strong domestic supply chain built on over 70 years of Canadian expertise, innovation and intellectual property. The sector is responsible for 90,000 direct and indirect jobs, and in the nuclear industry itself, 90% of jobs are high-skilled.
“We are moving at speeds not seen in generations to get big things done and leveraging pre-existing strengths to become a modern energy superpower,” said Hodgson. “Canada has long been a nuclear leader and we will continue to lead, under our new Nuclear Energy Strategy. Together with all members of Team Canada, we are taking action to ensure we have a co-ordinated, strategic approach to diversifying nuclear industry exports and bringing economic growth and security and affordable, reliable power to all Canadians.”
The Nuclear Energy Strategy sets out how Canada will strengthen energy affordability, security and sustainability at home and abroad by building big from new reactors to uranium development and beyond. “We will start by building on what we have, including Candu reactor technology, world-class uranium deposits in Saskatchewan, a top-tier Canadian nuclear workforce and supply chain, proven refurbishment expertise, medical isotopes and other nuclear innovations.”
Leveraging these strengths, the Strategy will help to attract investment through modern financing tools, grow and strengthen Canada’s nuclear innovation and research ecosystem and ensure an efficient regulatory system for major projects while upholding Indigenous rights and environmental protection. The Strategy will also ensure Canada maintains critical sovereign capabilities in key areas such as reactor technologies and nuclear energy supply chains, including ensuring the availability of an updated Candu design and support projects such as the Darlington New Nuclear Project, which will be the first small modular reactor (SMR) deployment in the G7.
The Strategy is structured around four pillars:
- Enabling New Builds Across Canada;
- Being a Global Supplier and Exporter of Choice;
- Expanding Uranium Production and Nuclear Fuel Opportunities and Supporting World-Class Long-Term Nuclear Waste Management; and,
- Developing New Canadian Nuclear Innovations (including fission and fusion).
Canada will work with interested provinces, territories, Indigenous Peoples, unions, universities and the broader nuclear sector to shape the implementation of the Strategy.
“Nuclear power is key to a cleaner, stronger, more sovereign economy. It is time to build on decades of Canadian leadership as a modern nuclear energy superpower, and through our Nuclear Energy Strategy the Government of Canada is delivering for Canadians today and for generations to come.”
With the world’s highest-grade uranium, and as the world’s second-largest producer, Canada produced roughly 24% of total global uranium output in 2024. About 90% is exported to other countries, where it is used to furl NPPs.
All active uranium mining and milling is concentrated in Saskatchewan. This contributed approximately CAD2.6bn to Canada’s economy in 2024 while directly employing over 3,400 Canadians.
Alongside the Government of Ontario, the Government of Canada is actively creating the right investment landscape for significant near-term opportunities. This includes building on commitments from Canada Growth Fund and the Building Ontario Fund to invest up to CAD2bn and CAD1bn respectively in the Darlington New Nuclear Project.
Nuclear refurbishments at Bruce Power and Darlington have been delivered ahead of schedule and on budget, with Darlington unit 4 completed four months early and CAD150m under budget, concluding the world’s largest completed nuclear refurbishment.
