Tiverton, Ontario, Nov. 15, 2022 (GLOBE NEWSWIRE) -- With representatives from around the world gathering at COP27 in Egypt to address the growing threat of climate change, Bruce Power is announcing a made-in-Ontario solution to help industries reach their net zero goals by allowing new incremental nuclear output to be accredited for an avoided emissions benefit.
“Ontario has already led one of the largest and most successful greenhouse gas and pollution-reduction programs with the phase-out of coal in 2014 and we’re poised to be on the cutting edge once again by establishing a protocol for new incremental nuclear power, which will be generated from the existing units, to further decarbonize the province’s energy supply mix,” said Mike Rencheck, President and Chief Executive Officer, Bruce Power. “Nuclear power already provides 60 per cent of Ontario’s supply and we’re optimizing our plants to provide even more clean energy to support a low-carbon intensity electricity grid for decades to come.”
Bruce Power is part of the Canadian delegation at the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27). This conference will see the largest representation from the nuclear industry to date, marking a growing recognition that there is no path to Net Zero without carbon-free nuclear power.
With Ontario electricity demand set to increase in the coming years, new supply will be required to ensure the electricity system remains reliable. To reach its goal of achieving Net Zero emissions by 2050, Ontario and Canada need to increase electricity generation from clean energy sources.
Bruce Power’s investment in a series of incremental power recovery projects under Project 2030 aims to increase annual power output from its current level of 6,550 megawatts (MW) to 7,000 MW through the 2030s. The avoided emissions from the initial phase of Project 2030 will grow site output to 6,750 MW and is estimated to remove almost 450,000 metric tonnes of CO2e- annually, the equivalent of taking approximately 100,000 cars off the road.
As part of the pilot project, the company has been working with GHD, a global professional services company specializing in energy and resources, to demonstrate the role the energy sector and nuclear power can play in the transition to a zero-carbon economy in Ontario. A GHD report, Avoided emissions and incremental energy production: The case for nuclear power, commissioned by Bruce Power, calls for the establishment of a clear accreditation pathway for nuclear and other clean energy resources in Ontario.
Bruce Power, working with GHD, is developing a Nuclear Carbon Offset Protocol, with plans to register the project on the Canadian Standards Association (CSA), GHG CleanProjects® Registry, which is based on ISO 14064 standards for greenhouse gas inventory and reporting.
Based on Bruce Power’s experience through its commitment to attaining net zero by 2027 and its work with financial institutions related to its Green Bond program, the company understands the importance of clean energy credits and carbon offsets being tangible, additional (supporting development of clean energy) and credible (validated and accredited).
Bruce Power is looking to form strategic partnerships with Ontario-based industrial operations in difficult to decarbonize sectors of the economy, who have committed publicly to Net Zero targets, are supportive of the development of the Clean Energy Registry and supportive of carbon offsets generated from new, incremental nuclear power.
In pursuit of this goal, Bruce Power is seeking partnerships by launching Expressions of Interest for its Clean Energy Credits and Carbon Offset protocol project, which will bring together key partners in the energy sector and establish the necessary validation pathway that will allow new, incremental/additional, and possibly refurbished nuclear to be accredited for avoided emissions.
This first-of-its-kind initiative will require a range of key stakeholders in order to collectively secure a strong foundation for what will be a new, permanent fixture in our province as organizations work to secure offsets and renewable/clean energy credits to achieve their Net Zero commitments.
