On Tuesday, the federal government through the Canada Infrastructure Bank announced an investment of almost $1 billion into Ontario Power Generation for the construction of the country's first small modular nuclear reactor, which is being developed near the Darlington Nuclear Generating Station.
"We hear a lot about how it’s going to cost a lot to transition the energy system. Well, we’re going to benefit a lot too.” The projects that ultimately win out, from an investor perspective, will be the ones that are reliable, affordable and capable of achieving social licence, said Jacquie Hoornweg, executive director of Ontario Tech University's Brilliant Energy Institute.
But in recent months, the Canadian oil and gas sector has rolled out a flurry of announcements of proposed projects — from hydrogen plants to renewable diesel facilities to carbon capture and storage — aimed at lowering the industry's emissions profile. "A lot of the sectors that have seen enormous growth over the last 20 years, particularly the tech sector, are not going to fare very well when energy costs get high," Norris said.