North America is doubling down on nuclear power. The United States and Canada have unveiled separate, ambitious plans to expand their nuclear energy capacity.
Canada announced a sweeping Nuclear Energy Strategy on June 22, targeting the construction of up to ten large-scale reactors by 2040. The plan includes doubling the national nuclear workforce to over 180,000 and expanding uranium exports.
Meanwhile, in the United States, Westinghouse has laid out plans for ten new AP1000 reactors with a construction completion target of 2030. This push is supported by the Department of Energy's backing of advanced reactor projects.
The shared goal is to secure reliable, 24/7 baseload power. A nuclear plant operates at full capacity roughly 90% of the time, a profile that intermittent renewable sources cannot match. This reliability is critical for grid stability and for energy-intensive industries.
For investors, the expansion signals growth for uranium miners and nuclear technology companies. For sectors like cryptocurrency mining, which seeks cheap, constant power, nuclear offers a competitive advantage.
The primary risk remains timeline and cost. Canada's nuclear buildout is estimated to exceed $100 billion. Ambitious construction targets are historically challenging, as seen in past nuclear projects that faced delays and budget overruns.