On Monday, Cameco (NYSE:CCJ), Westinghouse Electric, and Saskatchewan Power announced a memorandum of understanding to investigate the use of Westinghouse’s nuclear reactor technology as a clean power source in Saskatchewan. The collaboration aims to assess the feasibility of using advanced nuclear reactor technology to meet the province’s power needs in a sustainable and efficient manner. Through exploration of technical and commercial pathways, the companies hope to pave the way for potential deployment of Westinghouse’s reactor technology in the region.
Saskatchewan Power stated that it expects a final investment decision on building the province’s first small modular reactor (SMR) facility by 2029. The AP1000 reactor, which is currently in operation in the U.S. and China, has been praised for its operational performance and stability, and has also been selected for nuclear energy programs in Poland, Ukraine, Bulgaria, India, as well as several countries in Europe and North America.
The collaboration between Cameco, Westinghouse Electric, and Saskatchewan Power seeks to investigate technical and commercial options for deploying Westinghouse’s reactor technology to support long-term electricity supply planning. With a decision on the construction of an SMR facility anticipated in 2029, Saskatchewan Power is taking proactive steps towards incorporating innovative and clean power solutions into their long-term energy supply strategy.
