Westinghouse bid shows backers are betting on nuclear industry’s role in the looming energy transition
. Mark Carney, formerly head of the central banks of both Canada and Britain and now Brookfield’s head of transition investing, declared in a statement that any path to net-zero greenhouse gas emissions will drive “significant growth in nuclear power.” Such sentiments echo those of U.S. Environment Protection Agency administrator Michael Regan, who recently said nuclear technology will be essential for meeting decarbonization goals.
Such delays are by no means uncommon: Mycle Schneider Consulting reports that of the 16 reactors scheduled to be connected to the grid last year, only six actually were. While nuclear plants produce puny volumes of waste relative to many other industries, its hazardous characteristics make it particularly challenging to manage. Several countries have proposed building underground disposal sites known as deep geological repositories , where radioactive spent fuel would be permanently buried. Like reactors themselves, DGRs are complex, expensive projects with significant risks.Energy crises in several countries are rekindling interest in nuclear power.
But Russia’s war on Ukraine and subsequent European sanctions against Moscow’s fossil fuels have given the EU giant pause. The German government has drafted a law to override the 2011 decision and keep two nuclear plants on standby until April, and Mr. Altmaier said three others – which are already switched off – could be put into service again relatively easily.
Finland embraces nuclear – one of the many steps toward diversification the tiny Nordic nation has taken to fortify its energy supplies, ever cautious of the Russian neighbour with which it shares a 1,340-kilometre-long border. The government of Premier Doug Ford has been generally hostile toward renewables and supportive of nuclear power. This month it ordered OPG to re-examine its earlier decision to retire theAlberta’s energy sector has high hopes for how small modular reactors might help decarbonize the oil sands in the province’s north. The Pathways Alliance, a group of producers covering about 95 per cent of oil sands production, has committed to bringing emissions to net-zero by 2050.
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