03:18 PM EDT, 06/17/2024 (MT Newswires) -- Saskatchewan Power Corporation, Westinghouse Electric Company and Cameco Corporation ( CCJ ) on Monday signed a memorandum of understanding to evaluate the potential of Westinghouse's nuclear reactor technology and the associated nuclear fuel supply chain required for Saskatchewan's future clean power needs.

According to a statement, the MOU will explore technical and commercial pathways to deploy Westinghouse's reactor technology, including the advanced AP1000 reactor and AP300 small modular reactor (SMR), for long-term electricity supply planning. It said the framework includes evaluation of a Saskatchewan-based nuclear supply chain to support nuclear energy projects, including fuel. It also identifies opportunities to collaborate on nuclear research, development and workforce training in partnership with Saskatchewan's post-secondary institutions.

Monday's statement said SaskPower is expected to make its final investment decision in 2029 whether to proceed with constructing Saskatchewan's first SMR facility. The utility intends to use Saskatchewan uranium in any reactor constructed in the province, it added.

The AP1000 reactor, the statement noted, is in operation in the U.S. and China, where it is setting operational performance and availability records. It has been selected for the nuclear energy programs in Poland, Ukraine and Bulgaria, and is also under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom (UK), India and North America.

The AP300 modular reactor is the only SMR based on an advanced, large Generation III+ reactor already in operation globally. Westinghouse is targeting design certification by 2027 and for first construction to begin by 2030, with the operating unit planned to be available in the early 2030s. The AP300 SMR has been selected by the UK's Great British Nuclear program and is under further customer consideration in Europe and North America.

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