Construction is underway in Darlington, Ontario, for the first of four small modular reactors (SMRs), each capable of powering 300,000 homes. The $15bn (C$21bn) project aims to connect to Canada’s grid by decade’s end, but critics warn of massive cost overruns and risks to taxpayers. SMRs are seen as key to the cleantech revolution and AI-driven energy demand, offering reliable, low-carbon power without battery storage.
Yet skepticism remains: costs have ballooned for other SMR projects, and many designs rely on fuel from adversarial nations. The European Commission and White House are backing the technology, with the US pledging $3bn in recent funding. The IEA projects SMRs could add 40–200 GW globally by 2050.
In Ontario, Ontario Power Generation (OPG) may raise electricity rates to recover construction costs, sparking public concern. Proponents argue SMRs are faster to build and scalable, but economic viability remains unproven.
Source: Financial Times Companies · Summarized by HeadlinesBriefing