September 4 2024
SaskPower has created a nuclear subsidiary called SaskNuclear to advance the province’s Small Modular Reactor project through the regulatory and licensing process as the utility works towards reaching net-zero by 2050 or sooner.
SaskNuclear will allow SaskPower to advance its small modular reactor (SMR) development project from a business and regulatory standpoint.
Organizations
“Canada’s nuclear industry is held to a very high standard, and establishing a subsidiary dedicated to nuclear power will help SaskPower meet Canada’s strict regulatory requirements,” said Dustin Duncan, Minister Responsible for SaskPower. “The work done at SaskNuclear in the coming years will help support a final investment decision on whether to proceed with SMRs in 2029.”
The subsidiary will be wholly owned by SaskPower and will share a President and CEO, as well as a Board of Directors.
“A key part of our planning and development work is to evaluate various business models that would advance our project as effectively as possible,” said Rupen Pandya, SaskPower and SaskNuclear President and CEO. “Establishing a nuclear subsidiary is the best option for a greenfield jurisdiction, like Saskatchewan.”
Nuclear power is federally regulated by the Canadian Nuclear Safety Commission and has standards and regulations that are unique to the nuclear industry that differ from SaskPower’s other generation sources. SaskPower will need to build a nuclear information management system and establish a strong nuclear safety culture to become a licensed nuclear operator.
Learn more about SaskPower’s SMR development work at saskpower.com/nuclear.
At a glance...
- SaskPower has established a nuclear subsidiary
- The subsidiary, called SaskNuclear will focus on nuclear-specific processes and planning
- The subsidiary was created through an Order in Council
- Visit saskpower.com/nuclear for more info
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Read the full news release here
