'Canada Turns To Nuclear Power After 30-Year Pause To Meet Demand Surge' - BNN Bloomberg
Portfolio Pulse from Happy Mohamed
Ontario, Canada is expanding its nuclear energy capacity to meet growing demand and modernize its aging power grid. The province plans to expand an existing plant to become the world's largest and add three small modular reactors. This marks the first large-scale nuclear build in Canada in over three decades. By 2050, Ontario will need to double its generating capacity to 88.4 gigawatts, costing about $400 billion. The nuclear projects will reduce the province's reliance on natural gas and intermittent renewables like wind and solar.
July 31, 2023 | 3:13 pm
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Cameco Corporation, a major supplier of uranium, could benefit from Ontario's expansion of nuclear energy capacity.
As a major supplier of uranium, Cameco Corporation could see increased demand for its products as Ontario expands its nuclear energy capacity. This could potentially lead to increased revenues and a positive impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The iShares MSCI Canada ETF could see a positive impact from Ontario's expansion of nuclear energy capacity.
The iShares MSCI Canada ETF, which includes Canadian energy companies, could see a positive impact from Ontario's expansion of nuclear energy capacity. This could potentially lead to increased value of the ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 65