An independent report by PwC Canada, commissioned by GEH, estimates that the construction and operation of the first BWRX-300 in Ontario is expected to generate approximately $2.3 billion in Gross Domestic Product (GDP), $1.9 billion in labor income and more than $750 million in federal, provincial and municipal tax revenue over its lifespan.
OPG’s initiative would be the first commercial deployment of a grid-scale SMR in Canada. GE’s work with OPG would be a base for future SMR
deployment in Ontario, other parts of Canada, and internationally.
In addition to Canada, GEH has agreements in place with utilities and companies in the U.S. Poland, Estonia and the Czech Republic to explore deployment of the technology.
Of the $2 billion in total spending for GE’s First-of-a-kind SMR, 71% would be in Ontario and 78% would be in Canada. Over 90% of the total economic footprint of BWRX-300 manufacturing and construction will occur in Ontario.
As of April of 2021 four Canadian provinces (Alberta, Ontario, New Brunswick, and Saskatchewan) have signed a Memorandum of Understanding (MOU) for Canadian SMR advancements, affirming their commitment to SMR deployment in those provinces.
Terrestrial Energy Molten Salt and X-energy Pebble Bed SMR are still competing for the other world and provincial SMR projects.
The global market for SMRs is expected to grow to $150 billion between 2025 and 2040.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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