Ottawa Funds AtkinsRéalis for Next-Gen CANDU Reactor Redesign – Money Advice Experts in Services

Ottawa has announced a significant financial commitment to support the redesign of nuclear reactors. The Liberal government is providing a loan of up to $304 million to AtkinsRéalis, formerly known as SNC-Lavalin, to develop the next generation of CANDU reactors. This move aims to enable the company to compete for work on a major expansion project at Ontario’s largest nuclear plant.

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The loan will be utilized for updating the design of the CANDU reactor, a technology widely used in power plants across Canada and globally. AtkinsRéalis has been advocating for this redesign through a campaign called “Canadians for Candu,” with prominent figures such as former prime minister Jean Chrétien and former premier Mike Harris supporting the initiative.

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Natural Resources Minister Jonathan Wilkinson emphasized the importance of participating in this redesign effort, citing the need for a refreshed and updated CANDU design. The partnership with AtkinsRéalis, the owner of the CANDU reactor technology, is seen as a strategic move to accelerate the development of a new, more powerful reactor that can be deployed not only in Ontario but also in other countries.

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AtkinsRéalis, previously SNC-Lavalin, has exclusive rights to sell and develop the CANDU reactor, originally created by Atomic Energy of Canada Limited. The government’s collaboration with AtkinsRéalis comes at a crucial time when global demand for nuclear-generated power is on the rise.

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The decision to support AtkinsRéalis in advancing CANDU technology has been met with positive feedback. The company expressed gratitude for the government’s backing, highlighting the economic benefits of advancing Canadian nuclear technology and emphasizing the use of a predominantly Canadian supply chain in building these reactors.

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One potential application of the new CANDU reactor design could be at Bruce Power, a major nuclear power plant in Ontario looking to expand its generating capacity by up to 4,800 megawatts. While Bruce Power already operates CANDU reactors, the choice of technology for the expansion project remains under consideration.

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While AtkinsRéalis works on finalizing the design of the Monark reactor, competitors like U.S.-based Westinghouse Nuclear are also gearing up to bid for the Ontario project. Minister Wilkinson stressed the importance of making informed decisions for the long-term benefit of Ontario, especially in light of changing dynamics in the global nuclear industry.

Ontario Energy Minister Stephen Lecce’s spokesperson emphasized the government’s commitment to fostering competition in the nuclear sector to create jobs and enhance Ontario’s supply chain. The Bruce Power project is still in its early stages, with various technology providers vying to deliver cost-effective and reliable power solutions for Ontario residents and businesses.

In conclusion, the government’s financial support for the redesign of nuclear reactors signifies a strategic investment in advancing Canadian nuclear technology and strengthening the country’s position in the global nuclear energy market.

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