Small modular nuclear reactors threaten renewable energy transition in NB
The Government of New Brunswick has already invested a total of $10 million ($5 million to each company). In addition, NB Power, a corporation owned by the NB government, has invested an unknown amount in these companies. ARC Nuclear Canada recently disclosed their attempt to secure $20 million in funding from the Government of Canada. At press time, the government of NB is expected to make an announcement confirming the federal funding.
If non-renewable energy projects such as these small modular nuclear reactors have any realistic economic merit, they can and will be funded by private investors.
High profile and speculative non-renewable energy projects that require large amounts of public funding threaten the progress of transitioning to a renewable energy future. They divert investment away from renewables and conservation.