REGINA - SaskPower confirms that it is a setting up a new subsidiary for its nuclear power efforts.
The subsidiary is called SaskNuclear. According to Sask Power, it will advance the province’s Small Modular Reactor project through the regulatory and licensing process. It will also allow the project to advance from a business and regulatory standpoint.
SaskNuclear will be wholly owned by SaskPower, who state in a release that the company will share a President and CEO as well as a Board of Directors.
Rupen Pandya, SaskPower President and CEO, will hold the same titles with SaskNuclear.
“A key part of our planning and development work is to evaluate various business models that would advance our project as effectively as possible,” said Pandya in a news release. “Establishing a nuclear subsidiary is the best option for a greenfield jurisdiction, like Saskatchewan.”
“Canada’s nuclear industry is held to a very high standard, and establishing a subsidiary dedicated to nuclear power will help SaskPower meet Canada’s strict regulatory requirements,” said Dustin Duncan, Minister Responsible for SaskPower, in a news release. “The work done at SaskNuclear in the coming years will help support a final investment decision on whether to proceed with SMRs in 2029.”
