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Ottawa gives Bruce Power up to $50M to explore new nuclear plant

OTTAWA — Nuclear operator Bruce Power is set to receive up to $50 million from the federal government to explore building a new nuclear plant on the site of its existing Ontario facility.

Federal Energy and Natural Resources Minister Jonathan Wilkinson made the funding announcement Thursday, saying it will help work toward a net-zero economy.

Bruce Power is set to use the money for pre-development work including applications and technical, environmental and engineering studies and evaluations.

The company is currently going through a federal Impact Assessment process to evaluate the potential for a new plant to generate up to 4,800 megawatts – enough to power 4.8 million homes.

It would be Ontario’s first new, large-scale nuclear plant in more than 30 years and comes as the province looks to secure more power generation to meet its growing electricity demands.

Ontario is also planning to build four small modular reactors at the site of Ontario Power Generation’s Darlington nuclear plant, and is looking to extend the life of the Pickering plant.

This report by The Canadian Press was first published Feb. 29, 2024.

The Canadian Press

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