CALGARY — Canada is betting heavily on nuclear power as part of its push to strengthen energy security, meet rising electricity demand and position itself as a global energy superpower.Federal Energy and Natural Resources Minister Tim Hodgson on Monday unveiled Canada's new Nuclear Energy Strategy, a long-term plan aimed at expanding reactor development, increasing uranium production, attracting private capital and doubling the country's nuclear workforce by 2050.The strategy comes as Ottawa projects a significant increase in electricity demand driven by economic growth, industrial development, artificial intelligence, data centres and electrification initiatives."Nuclear power is key to a cleaner, stronger, more sovereign economy," Hodgson said. The federal government says nuclear energy already plays a major role in Canada's electricity system, generating about 13% of the country's power through 17 operating CANDU reactors in Ontario and New Brunswick.According to government figures, the sector supports approximately 90,000 direct and indirect jobs and contributes roughly $22 billion annually to the Canadian economy.Ottawa's strategy is designed to build on Canada's existing nuclear footprint, which includes domestic reactor technology, major uranium reserves, nuclear research expertise and a well-established supply chain..Hodgson believes Pathways carbon capture costs can be 'readily absorbed’ by oil sands companies.The plan is built around four priorities: enabling new reactor construction across Canada, expanding nuclear exports, increasing uranium production and fuel opportunities, and advancing Canadian nuclear technologies, including both fission and fusion research.The federal government says the strategy will support the development of new large-scale reactors and small modular reactors while promoting Canada's CANDU technology internationally.Canada currently operates 17 CANDU reactors domestically and services nine additional reactors abroad in countries including Romania, India and South Korea.A major component of the strategy focuses on uranium development. Canada possesses some of the world's highest-grade uranium deposits and was responsible for approximately 24% of global uranium production in 2024, making it the world's second-largest producer.Most Canadian uranium mining and milling operations are located in Saskatchewan, where the industry contributed an estimated $2.6 billion to the economy last year and directly employed more than 3,400 people.The government says the strategy will use financing mechanisms and regulatory reforms to encourage private-sector participation while maintaining environmental standards and consulting with provinces, territories, unions, universities and indigenous communities..Hodgson promotes Carney's 'Build Canada' agenda to global energy investors.The plan also seeks to preserve Canada's domestic nuclear capabilities, including maintaining an updated CANDU reactor design and supporting major projects such as the Darlington New Nuclear Project in Ontario.Darlington is expected to become the first small modular reactor deployment in the G7 and has been identified by Ottawa as a key component of Canada's future electricity system.The federal government has already committed significant financial backing to the project. The Canada Growth Fund has pledged up to $2 billion, while the Building Ontario Fund has committed up to $1 billion.Ottawa also pointed to recent refurbishment projects at Bruce Power and Darlington as examples of successful nuclear development, noting Darlington Unit 4 was completed four months ahead of schedule and $150 million under budget.Hodgson said the strategy is intended to provide a coordinated national approach to nuclear development while creating new export opportunities and ensuring Canadians have access to affordable and reliable electricity in the decades ahead."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," Hodgson said."Canada has long been a nuclear leader — and we will continue to lead under our new Nuclear Energy Strategy."
