In addition to energy security the world is moving towards a carbon free economy where electricity will be used to replace combustible energy sources in transportation, industry and shipping. This massive transformation is estimated to require as much 120 gigawatts (GW) to achieve nationally, from all clean energy sources. Ontario’s Independent Electricity System Operator’s (IESO) 2022 Pathways to Decarbonization Report suggests that Ontario alone could require 18,000 new MW of nuclear energy by 2050, representing replacement power for the Pickering Nuclear Station as well as new nuclear. SNC Lavalin’s Engineering Net Zero report suggests a need for 5 to 7 GW of clean energy including nuclear every year across Canada for thirty years. “This is a staggering amount of nuclear energy that will require SMRs and large nuclear to achieve,” says Fehrenbach. “By strategically placing SMRs the provinces can also avoid having to build out some new transmission lines to more remote locations, while at the same time increasing the capacity of our current transmission lines that run from large nuclear sites.” While SMRs are currently the primary focus for development, OCNI continues to support the deployment of large nuclear stations and the life-extensions of the existing CANDU fleet that provides Canada with reliable base-load generation. As the former Minister of Natural Resources, Seamus O'Regan, said, “SMRs offer the next great opportunity for Canada. This work is enabling us to double down on our common mission: a netzero economy by 2050; a global economy that continues to grow; a strong path for reconciliation with Indigenous peoples; and an energy future that leaves no one behind.” For more information, please visit www.ocni.ca 61 APR 2023 | BUSINESS ELITE CANADA
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