Investing in Phase 1 of Canada’s first small modular reactor
Fast facts
We are investing $970 million towards the SMR’s capital costs for Phase 1 which includes project design, procurement of long lead-time equipment, utility connections, site preparation and project management requirements.
SMRs are a new class of nuclear reactors of 300 megawatt or less which are designed with modular technology, resulting in enhanced safety, economies of scale and expected shorter construction schedule compared to traditional nuclear generating stations
The 300-megawatt SMR will provide enough electricity to power 300,000 homes.
Benefits of CIB Involvement
CIB fills gaps in funding and financing on projects where public and private investment are both required. In this project the economic gap is caused by higher costs associated with it being a first of a kind with unique circumstances that limit early private sector interest.
CIB has priority sectors including Clean Power – this project is consistent with the CIB’s goal of accelerating emission reductions.