Bruce Power Net Zero Inc. launched to leverage the role of nuclear to fight climate change
New entity will leverage other clean technologies to build off Ontario’s nuclear foundation to support Canada and Ontario’s Net Zero targets
Tiverton, ON, Oct. 21, 2021 (GLOBE NEWSWIRE) -- This morning, during an announcement at Plug’n Drive, a non-profit organization committed to accelerating electric vehicle adoption to maximize their environmental and economic benefits, Bruce Power further solidified its commitment to leading Canada on the path to a zero-emissions future by launching Bruce Power Net Zero Inc.
“Decarbonizing the economy requires action,” said Mike Rencheck, Bruce Power’s President and CEO. “Today’s launch of Bruce Power Net Zero Inc. moves us one step closer to Net Zero by 2027 by building off Bruce Power’s foundational nuclear output as a key enabler of decarbonisation. Bruce Power Net Zero Inc. will unlock the potential of other complementary technologies to nuclear, including storage, hydrogen, carbon off-sets, renewables and vehicle electrification to achieve a Net Zero future.”
Bruce Power Net Zero Inc. will repurpose and leverage the business of Huron Wind, a 9 Megawatt wind farm located near Tiverton, to identify and invest in clean energy initiatives that complement the role of nuclear and assist Bruce Power and Ontario in achieving their Net Zero targets. Huron Wind was the first commercial wind farm in Ontario and is jointly owned by TC Energy and OMERS.
“Bruce Power is demonstrating leadership with its commitment to reach Net Zero emissions by 2027, and today’s launch of Bruce Power Net Zero Inc. is another step toward finding innovative pathways to help Ontario decarbonize,” said Hon. David Piccini, Minister of Environment, Conservation and Parks. “It’s clear that electric vehicles present significant economic, infrastructure and environmental opportunities for Ontario, and our province has the skills, labour, innovation and raw materials to compete in this market globally. I want to commend Bruce Power for its five-year, $250,000 commitment to Plug’n Drive and today’s launch. You are taking important steps today to help Ontario grow towards a greener, cleaner future, and our province is with you.”
Bruce Power Net Zero Inc. will leverage investment to generate pathways to achieve Net Zero GHG emissions from the Bruce Power site by 2027. Initiatives include those which reduce emissions of harmful gasses as well as enhancing or protecting the natural solutions which capture those gasses, like forests and the ocean.
Bruce Power Net Zero Inc. will accomplish this mandate by:
· Enabling new business connections with industry, and regional and community partners that reduce GHG emissions.
· Investing in Net Zero infrastructure that generates off-set credits.
· Capitalizing on the potential of nuclear power to enable innovation in the pursuit of decarbonization.
· Leveraging government support to unlock investment opportunities that further contribute to a Net Zero future.
“Low-cost, low-carbon emission energy represents a competitive economic advantage for Ontario and Canada,” said James Scongack, Chief Development Officer and Executive Vice President, Operational Services at Bruce Power, and Director, Bruce Power Net Zero Inc. “Nuclear is ideal for fighting climate change because it is one of the only carbon-free, scalable energy sources that’s available 24 hours a day. With a strong foundation and Bruce Power’s announcement of Project 2030, which will increase clean energy output from the Bruce site, this entity will work to advance a range of other clean energy technologies to leverage this foundational position.”
As part of today’s event, Bruce Power also extended its commitment to Zero Emission Vehicle (ZEV) infrastructure, committing $250,000 over the next five years directly to Plug’n Drive as part of the company’s commitment to be Net Zero by 2027.
“Electric vehicle adoption will be a key determining factor in our fight against climate change,” said Cara Clairman, Plug’n Drive’s President and CEO. “Critical to this adoption is ensuring that Ontario act now to transition to ZEV manufacturing, while at the same time also encouraging citizens to transition to EVs. The steps that Bruce Power has taken today launching Net Zero Inc. and its commitment to Plug’n Drive, prove to me that with dedicated leadership and effort a Net Zero future is possible.”
Bruce Power and Westario Power Inc. are looking to enhance EV charging infrastructure in the Clean Energy Frontier region of Bruce, Grey and Huron counties and have signed an MOU to investigate enhancements to charging infrastructure.
“We’re excited to be collaborating with Bruce Power and look forward to a partnership that expands clean energy use and powers people lives throughout the Clean Energy Frontier,” said Jenny Alfandary, President and CEO of Westario Power Inc.
Bruce Power Net Zero Inc. will build on the previous efforts of the company, which have included the formation of an expert-driven Green Ribbon Panel, which last year released a series of reports focused on helping Canada and Ontario lower emissions without sacrificing economic growth. The Nuclear Innovation Institute has also, over the past year, delivered a series of reports about decarbonization opportunities using nuclear power, as well as a recent report focused on EV charging infrastructure needs in Bruce County.
Vanessa Foran, President and CEO of Asthma Canada and Green Ribbon panel alumni, added, “Bruce Power launching this entity today is stepping up to curb climate change while at the same time, grow the economy, clean its air and improve health outcomes for Ontario citizens. Every step we take toward a cleaner electricity supply mix and a reduced reliance on fossil fuels for energy and transportation, the better the air quality will be in the Province of Ontario for all.”
Also launching today is a Bruce Power Net Zero Inc. Expression of Interest (EOI) for new carbon-reduction projects. Sharing the clean energy benefits of nuclear power with local communities and other economic sectors is the impetus behind Bruce Power Net Zero Inc. The program will provide a way for the nuclear industry to collaborate with governments, farmers, renewable generation, environmental groups and others on innovative ways to reduce the emissions of carbon dioxide and other greenhouse gases that are driving climate change. To apply and learn more about the process please visit our website at www.brucepowernetzero.com.
Also launching today is a Bruce Power Net Zero Expressions of Interest (EOI) for new carbon reducing projects. For more information about the EOI please visit our website at Bruce Power NetZero and contact us directly. Sharing the clean energy benefits of nuclear power with local communities and other economic sectors is the impetus behind Bruce Power Net Zero Inc. which will provide a way for the nuclear industry to collaborate with governments, farmers, renewable generation, environmental groups and others on innovative ways to reduce the emissions of carbon dioxide and other greenhouse gases.
About Bruce Power Net Zero Inc.
Bruce Power Net Zero Inc. is focused on unlocking the potential of other complementary technologies to nuclear including storage, renewables, hydrogen, and electrified transportation to achieve a Net Zero future. Bruce Power Net Zero Inc. also operates Huron Wind, a 9 Megawatt wind farm located in Tiverton. Huron Wind was the first commercial wind farm in Ontario. Bruce Power Net Zero Inc. is owned jointly by TC Energy and OMERS.
CONTACT: John Peevers