Canada is increasingly asserting itself as a major player in global nuclear energy.
Strong Domestic Base and Export Potential
Currently, about 15% of Canada’s electricity comes from nuclear power, primarily in Ontario where 17 reactors provide approximately 12.7 GW of capacity.
Canada also exports large amounts of uranium and nuclear technology, giving it a strategic global role.
Focus on SMRs and New Builds
The government is backing next-gen nuclear technology. Canada targets commercial SMRs and large reactors to meet rising demand and decarbonization goals.
One SMR project was recently shortlisted for federal fast-track approval. Ministers and industry leaders say SMRs offer faster deployment and global market opportunity.
Energy Security Meets Economic Strategy
Prime Minister Mark Carney announced a major investment for the “Darlington New Nuclear Project,” calling it a generational investment to deliver clean power, reduce emissions, and create jobs.
With global tensions rising and energy supply becoming a geopolitical issue, Canada’s nuclear ambitions align with national security and economic strategy.
Worldwide, countries agreed at COP28 to triple nuclear capacity by 2050. Canada’s advanced supply chain and regulatory environment give it an edge.
The country’s track record in safe nuclear operations and uranium exports adds credibility and influence.
Challenges Ahead
Despite the momentum, hurdles remain. Securing financing for large nuclear builds still demands government backing and risk sharing.
The SMR market remains nascent. In addition, competition from China, Russia and the United States means Canada must deliver on cost, schedule and export readiness.
Impact for Canadians and the Global Market
For Canadians, this strategy means potential job growth in engineering, construction and technology. It could also stabilize electricity costs and support cleaner grids.
Internationally, Canadian firms may win tenders in markets seeking trusted nuclear suppliers.
