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Canada must turn to the next generation of Canadian technology – the CANDU MONARK – to power its future

Canada must turn to the next generation of Canadian technology – the CANDU MONARK – to power its future

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Ontario has a homegrown solution to the problem of decarbonizing its energy supply in CANDU nuclear technology.
To meet increased demand and zero-carbon energy by 2050, new nuclear reactors will be needed in the province.IMAGE COURTESY OF ATKINSRÉALIS

Ontario will soon be making some big decisions about nuclear power. Already the largest beneficiary in Canada of this clean, reliable, stable power source, Ontario gets between 50-60 per cent of its power from nuclear. Recently, the provincial government announced its intention to build 4,800 MW of new nuclear power production at Bruce Power’s site in Kincardine, Ont., the largest operating nuclear site in the world. It has also announced that it will extend the life of four CANDU® reactors at the Pickering Nuclear Generating Station for another 30 years of safe operation and that it intends to build four small modular nuclear reactors (SMRs), including

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Canada Announces Tax Credit for Carbon Capture Technology

Canada Announces Tax Credit for Carbon Capture Technology

Canada’s federal government will introduce investment tax credits for carbon capture, utilization, and storage (CCUS) and clean technology manufacturing as it aims to compete globally in clean tech and reduce its greenhouse gas emissions.    

“As an important pillar of Canada’s clean economy jobs plan, the government is focused on implementing, on a priority basis, the new clean economy investment tax credits for carbon capture, utilization, and storage; clean technology adoption; clean hydrogen; clean technology manufacturing; and clean electricity,” the federal government said in the Fall Economic Statement this week.

The government aims to introduce legislation on CCUS in Parliament this fall.

Moreover, the 2023 Fall Economic Statement announced that the Canada Growth Fund would be the principal federal entity issuing carbon contracts for difference. The Canada Growth Fund will allocate, on a priority basis, up to US$5.1 billion (C$7 billion) of its current US$11 billion (C$15 billion) in capital to

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