A study on small modular reactors found the technology can help to curb greenhouse gas emissions while supporting domestic energy needs.
The study was originally ordered when New Brunswick signed a memorandum of understanding on SMRs along with Ontario and Saskatchewan.
On Wednesday, the study was released formally and Alberta signed onto the memorandum during a joint press conference with New Brunswick Premier Blaine Higgs, Alberta Premier Jason Kenney, Ontario Premier Doug Ford, and Saskatchewan Premier Scott Moe.
“(SMR technology) will become the world’s most sought after technology,” Higgs said. “It’s a knowledge area which Canada and New Brunswick know well.”
Higgs says the combined efforts of the four provinces will deliver a technology “the world needs.”
The study, which was conducted by NB Power, Ontario Power Generation, Bruce Power and SaskPower, found that there are three ‘streams’ of SMR projects which could position Canada as a leader in the emerging technology.
One of those streams is research into two fourth-generation designs that would be developed at Point Lepreau in Saint John.
“With an investment of $10 million in 2018, New Brunswick was able to attract two high-quality companies: Moltex and ARC to the province,” Higgs said. “Both companies are now developing their technologies and completing regulatory requirements.”
The next step for the four provincial governments will be to develop a joint strategic plan, which is expected to be completed this spring.