At the Glasgow climate summit, which ended Friday, major economies agreed on the need to cut global carbon emissions to avoid the worst impacts of climate change.
government gave famed engine manufacturer Rolls Royce $350 million this week to help the company build a new generation of small modular nuclear reactors.
The reactors are still in the planning and development stage, but they’re promised to be safer and cheaper than current large reactors and could be built in factories and then delivered onsite.
He said Canada has a top regulatory system, but it will need some changes to adapt to the smaller projects that are coming.
In addition to the Chalk River project, Ontario Power Generation has a second modular reactor proposal at the Darlington Nuclear plant just east of Toronto.
Britain’s investment in nuclear also came with regulatory changes that allow the plants to be financed even while under construction, reducing their overall interest costs and reducing the cost of power.
Gorman acknowledges the industry has a stigma of being high cost.
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