Ontario and Canada commit $3B to help build G7’s first small modular reactors
AI Article Summary
The Province of Ontario and Canada announced a joint commitment of $3 billion to support the construction of small modular reactors (SMRs) at the Darlington nuclear station. Ontario is contributing $1 billion, while the Canadian federal government provides $2 billion. The project aims to have the G7's first operational SMRs, creating thousands of jobs and generating significant electricity for the region. Construction is already underway, and completion is expected by 2030.
What This Means for Canadian Contractors
For Canadian builders, this means significant opportunities in terms of labor and supply chain involvement as the project promises to inject $500 million annually into the Canadian supply chain. This project shows how strategic government funding can accelerate the adoption of innovative technologies like SMRs, creating new markets for Canadian companies. Moreover, the emphasis on using local companies for 80% of project spending can lead to growth and stability within Canada's construction and energy sectors.
