The federal minister responsible for innovation and industry says Canada could be at risk of losing out on attracting green industries if it doesn’t consider all options for renewable electricity, which he says include nuclear power.
“I can tell you when investors are calling me, they are not looking for subsidies,” said Champagne. “They are looking for renewable energy, they’re looking for talent, they’re looking for the right ecosystem, they’re looking for access to market. So, I would say that today, renewable energy is key to attracting investment, and that’s why we’re going to be there.”
“I think you have to look at all the renewable sources of energy, and I think certainly British Columbia like Manitoba or like Quebec has been blessed with hydro power,” he said. Among Winfield’s concerns are typically high initial capital costs during construction of nuclear plants, which have previously included cost overruns and delays in Canada.
He said the potential for small modular reactors is huge, as other countries will look to Canada to produce such reactors for decarbonizing power generation.