Canadian Government Bets on Nuclear Energy

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Canada's liberal party government is going the route of US energy policy and beefing up federal support for nuclear energy. Canada's Finance Minister Chrystia Freeland on Mar. 28 released the government's proposed budget for 2023-23 — now up for Parliamentary debate — including C$70 billion (US$52 billion) in investment tax credits (ITC) for clean energy including nuclear. Calling it "a huge win for the sector," the Canadian Nuclear Association in a Mar. 30 email noted that conventional reactors, small modular reactors, and refurbishments such as those at Bruce Power and Ontario Power Generation, would be eligible for C$25.7 billion in ITCs open to both public and privately owned entities. Among other energy tax credits for manufacturing and hydrogen production, the budget also includes a C$40 billion boost in financing opportunities administered through various government funds and financial institutions, including the Canadian Infrastructure Bank, which late last year pledged C$970 million to finance preliminary site work at the Darlington plant where OPG will deploy a first-of-a-kind BWRX-300 SMR.

Nuclear, Nuclear Newbuilds, Nuclear Policy, Low-Carbon Policy
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