TORONTO (CP) -- The only private nuclear generating company in Canada says it will spend three years on the assessment for a new plant at the former Stelco lands in Nanticoke in southwestern Ontario.
Bruce has an option to buy the land from Pittsburgh-based U.S. Steel, which bought out Stelco, but it won't actually purchase the lands before the environmental assessment is completed.
Bruce Power CEO Duncan Hawthorne says looking at new sources of generation in the Haldimand-Norfolk region will give the company and the province a number of options to consider.
Ontario's Liberal government hasn't yet committed to building new nuclear plants, but has said it wants nuclear power to generate about 50% of the province's electricity.
Both Haldimand and Norfolk councils unanimously passed resolutions supporting an environmental assessment into new nuclear build in their area.
Bruce Power operates six Candu reactors at its electricity generating stations about 250 km northwest of Toronto.
The Ontario-based nuclear power company is a joint venture of Saskatoon-based uranium giant Cameco Corp. (CCO) TransCanada Corp. (TRP) of Calgary and other partners.
(c) The Canadian Press