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Canada Bank Group Pledges Millions Toward Nuclear Power Project

October 26, 2022

The Canadian government has pledged more financing toward development of a grid-scale small modular reactor (SMR), as the country continues to support nuclear power as a way to cut emissions of greenhouse gases from its power generation sector.

Natural Resources Minister Jonathan Wilkinson on Oct. 25 said C$970 million ($708 million) is targeted for a project being developed by Ontario Power Generation (OPG). A spokesperson for the ministry said it would be the first commercial grid-scale SMR developed by the Group of Seven (G7) nations, which includes Canada, France, Germany, Italy, Japan, the UK, and the U.S.

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