Second FS for SMR Nuke in Alberta announced
Capital Power, Ontario Power Generation, Launch Feasibility Study for Small Modular Nuclear Reactors in Alberta
2024-01-15 09:03:13 AM ET (MT Newswires)
09:03 AM EST, 01/15/2024 (MT Newswires) -- Capital Power (CPX.TO) on Monday said it will team up with Ontario Power Generation to launch a feasibility study into the potential for emissions-free small modular nuclear reactors (SMRs) for the Alberta power market.
The company said the study "will examine the feasibility of developing SMRs in Alberta, including possible ownership and operating structures".
Ontario Power Generation is planning to build four SMRs at the site of the Darlington nuclear plant in southern Ontario, with construction expected to be complete in 2028. The technology is backed by conservative governments in Alberta, Saskatchewan, Ontario and New Brunswick, which signed a 2022 agreement to study the potential for SMRs to provide emissions-free electricity.
"We are excited to partner with and learn from OPG, a world-leader in nuclear power production. We are at the forefront of electrification which will drive continual growth in demand for power. The deployment of SMR technology will provide an important source of safe, reliable, flexible, affordable, and clean base load electricity in Alberta in the future," Capital Power chief executive Avik Dey said in a release.
SMRs produce up to 300 megawatts of electricity, while larger-scale reactors can produce around 900 megawatts.
The feasibility study for SMRs is the second for the Alberta market, after TC Energy (TRP.TO) in 2022 launched a study for the technology's potential for providing power for oil sands projects in northern Alberta. TC operates the Bruce nuclear plant in Ontario, one of the world's largest, which supplies 30% of the province's power.
Capital Power shares closed down C$0.13 to C$36.17 Friday on the Toronto Stock Exchange.