To cement Canada's competitive advantage in the global shift to a net-zero emissions economy and to meet our climate goals, we need to significantly increase the amount of non-emitting energy that we use to power our homes, businesses and industries. New, non-emitting electricity infrastructure projects, including projects powered by next-generation nuclear technologies, such as small modular reactors (SMRs), can play a crucial role in this shift and in delivering economic prosperity to every region of Canada.
The Government of Canada is continuing to support the development and deployment of SMRs, a promising non-emitting form of energy, to help Saskatchewan and other provinces increase their ability to deliver clean, reliable and affordable power to their citizens. To this end, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, was in Saskatoon today to announce that the Government of Canada has approved up to $74 million in federal funding for SMR development in Saskatchewan, led by SaskPower. This funding will support pre-engineering work and technical studies, environmental assessments, regulatory studies and community and Indigenous engagement to help advance this important project. SaskPower has selected the GE-Hitachi BWRX-300 for potential deployment in Saskatchewan in the mid-2030s, subject to a decision to build that is expected in 2029.
SMRs, a non-emitting form of energy, can play an important role in decarbonizing provincial electricity grids and heavy-emitting industries and can help remote communities reduce their reliance on costly and high-polluting diesel power. As an example, a 300-megawatt SMR can supply enough non-emitting power for an estimated 300,000 homes.
With over 75,000 hard-working Canadians employed across its supply chain and decades of experience in this area, Canada's nuclear industry is well positioned to leverage its science and technology innovation to continue to be among the leaders in the development and deployment of SMR technology.
Advancing new non-emitting electricity infrastructure projects is part of the government's comprehensive approach to bringing clean, affordable and reliable power to every region of Canada, as outlined in Powering Canada Forward and in the draft Clean Electricity Regulations. The Government of Canada has committed over $40 billion in new federal measures to help provinces and has announced over $500 million to date in support of a variety of projects that are helping to build a clean, affordable and reliable grid in Saskatchewan specifically.
The shift to a non-emitting, affordable and reliable electricity grid across Canada by 2035 is a nation-building project that requires significant investments, thoughtful regulations and our fullest collaboration. Today's announcement brings us one step closer to achieving a clean electricity system for the benefit of all Canadians. With a thoughtful, comprehensive and collaborative approach, we can ensure that every region of Canada thrives in the global race to fight climate change and seizes the economic opportunities of a low-carbon future.
