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Friday, Aug 8, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.
SaskPower secures land for potential SMR site
SaskPower secures land for potential SMR site
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Uranium

SaskPower secures land for potential SMR site

The new land acquisition includes five parcels located due south of Macoun

Saskatchewan’s power regulator, SaskPower, has taken a major step in its site selection process for the province’s first small modular nuclear reactor (SMR).

The utility confirmed the purchase of over CAD$3.1 million worth of land near the Rafferty Reservoir on Thursday, securing the area as a viable contender for the project. However, officials have made no final decision.

The new land acquisition includes five parcels located due south of Macoun. The purchase consists of four full quarter sections priced at CAD$600,000 each, along with a 12-acre parcel valued at CAD$790,000. These details appear in Orders-in-Council and real estate data published by the Government of Saskatchewan.

In an email to Discover Estevan, SaskPower spokesperson Joel Cherry explained the reason behind the transaction.

“SaskPower’s land option agreement at Rafferty is set to expire before we are in a position to select a site,” said Saskpower’s Joel Cherry.

“By purchasing the land, we can continue to study the suitability of the Rafferty site as well as the Boundary Dam site.”

Accordingly, the move ensures that both Rafferty Reservoir and Boundary Dam remain active candidates. If the final selection favours the Boundary Dam site, SaskPower says it may sell or lease the Rafferty property. Additionally, this approach keeps options open while regulatory, environmental, and technical studies continue throughout 2024.

The second site under consideration is located just east of Boundary Dam Reservoir, near Estevan’s Woodlawn Regional Park. This area sits immediately north of residential neighbourhoods and offers access to infrastructure, services, and skilled labour.

Read more: North American leaders push nuclear partnership to bolster energy security

Read more: Japan launches new experimental nuclear fusion reactor

SaskPower is conducting environmental assessments

“The region offers many benefits, including proximity to the City of Estevan to access existing services, a skilled workforce, accommodations and emergency services, as well as infrastructure, roads and transmission,” said Rupen Pandya, Saskpower’s president and CEO.

Therefore, the company expects the selected site will meet both technical and logistical requirements for SMR construction.

In addition to the land purchase, SaskPower is conducting geotechnical, groundwater, and environmental assessments at both sites. These investigations are underway and will continue through the remainder of 2024. The company expects to announce the final site selection in early 2025.

Further, the government anticipates that a decision on whether to proceed with reactor construction will be made by 2029. If approved, SaskPower could bring the first 315-megawatt unit online by 2034. The design may also allow for a second reactor to follow. SaskPower continues to engage with the Canadian Nuclear Safety Commission as part of its federal regulatory approval process.

The land purchases and site studies reflect Saskatchewan’s growing interest in nuclear energy. The province aims to transition toward a net-zero emissions grid by 2050. Accordingly, the province increasingly views nuclear energy as a key pillar of that strategy.

Furthermore, this SMR development complements SaskPower’s broader energy transition plan. The utility previously narrowed its study to the Estevan region after reviewing other areas, including Elbow. The choice followed a year of public engagement, Indigenous consultation, and technical review.

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