Natural Resources Canada recently announced up to $50 million in funding toward clean energy.
The announcement was made at the annual conference of the Canadian Nuclear Association last week.
James Scongack, the Executive Vice-President and Chief Development Officer for Bruce Power says a majority of that funding will go toward the pre-development work for the Bruce C project.
“I think it’s very clear that the governments of Ontario and Canada and, frankly governments around the world, are recognizing we’ll never reach net zero without the role of nuclear,” he says. “We’re seeing a very significant growth around nuclear power. [This] announcement was just another example of that.”
Scongack says that the money will be going towards environmental studies, technical analysis, developing a plant perimeter envelope, and engaging with Indigenous communities and the public.
He adds that there has been investor interest in Canada for nuclear power, meaning that they haven’t needed to look for international investors in current projects.
The two main investors in their development are OMERS Pension Plan and TC Energy.
“We’re fortunate to have strong investors, but also a very strong financial community as part of our Green Bond program,” Scongack says. “Made in Canada money for Made in Canada solutions.”
