OTTAWA, June 29, 2015 /CNW/ - The Honourable Greg Rickford, Canada's Minister of Natural Resources, today announced the signing of a Memorandum of Understanding (MOU) with the United Kingdom (U.K.) on nuclear energy cooperation. This MOU will help position Canada's nuclear industry to capture opportunities in the growing U.K. nuclear energy market.
The U.K. Nuclear Industrial Strategy calls for the construction of at least 12 new nuclear power plants to produce 16 gigawatts-electric by 2030 to replace its existing fleet and to help meet projected growth in demand. The MOU will provide benefits to a wide array of stakeholders in the nuclear energy industry in both Canada and the U.K., including small and medium-sized enterprises, by facilitating stronger industry-to-industry connections and encouraging collaborative work between laboratories and university research networks.
The MOU follows through on the commitment for increased cooperation in the field of nuclear energy that was highlighted in the updated 2014 Prime Ministerial Canada–U.K. Joint Declaration. The MOU was signed in London today by Canada's High Commissioner to the U.K. and the Director of the Office for Nuclear Development in the U.K. Department of Energy and Climate Change.
The MOU will reinforce work already underway on feasibility studies related to the disposal of U.K. plutonium, and it will provide a framework to assess the development of power generation based on alternative nuclear fuels.
- Canada's nuclear energy industry accounts for 30,000 high-quality jobs and helps make Canada's electricity supply among the cleanest in the world.
- Nuclear power generates close to 15 percent of Canada's electricity, including more than half the electricity supply in Ontario.
- Nuclear energy production in Canada generates about $5 billion in annual revenues. And Canada's uranium exports are valued at more than $1 billion per year.
- The U.K. has identified nuclear energy as an essential low-carbon emitting technology that will help it meet its CO2 emissions targets.
"We are creating opportunities for job creation and economic growth in Canada's nuclear sector by opening new avenues for collaboration with the United Kingdom. The new cooperation announced today enhances our relationships and gives Canada's nuclear industry improved access to growing opportunities in the U.K.'s nuclear energy market."
Minister of Natural Resources
Backgrounder: Memorandum of Understanding on Canada-U.K. Nuclear Energy Cooperation
SOURCE Natural Resources Canada
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