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Energy Minister Stephen Lecce revealed the long-awaited dollar figure Thursday as construction on the first reactor began following years of preparations, approvals and site preparation.

He touted the project as a “nation-building” effort that will create 18,000 jobs with a majority of supplies, including steel and concrete, from more than 80 companies based in Ontario.

In a letter to Prime Minister Mark Carney earlier this week, Premier Doug Ford mentioned expanded nuclear power generation as part of a strategy to achieve “Canadian energy security, reduce (carbon) emissions and create new export opportunities with new jobs.”

Lecce noted Ontario is hoping to sell the small modular technology abroad, generating sales, creating expertise and opportunities for long-lasting maintenance contracts to keep Canadian nuclear engineers and other nuclear workers employed for decades. 

The first reactor is slated to begin supplying electricity to the grid in 2030 with the others coming online by 2035, resulting in 3,700 permanent jobs and filling what is expected to be a power gap early next decade. The reactors have a projected lifespan of 65 years. 

Ontario and its Crown corporation Ontario Power Generation are working with power companies in New Brunswick, Saskatchewan and Alberta as they develop SMRs for their jurisdictions. 

The small reactors are different from their larger ones at Darlington, Pickering and Bruce nuclear stations because they use commercially available uranium to generate electricity. 

The province is also working toward building a major new nuclear generating station east of Darlington at Port Hope.

The theory behind SMRs is they are easier and less costly to build than major nuclear stations.