[LINK] "Ottawa invites bids on CANDU"

[rfmcdonald]

Thanks to zibblsnrt for pointing me to the news that the Canadian federal government is selling off' the CANDU division of Atomic Energy Limited of Canada. Once a bleeding-edge technology worthy of international export, decades of underinvestment have made the reactor design not very desirable internationally. Still, in an era when France among others is exporting its own technology, it is sad news for a Canada that needs rather more investment in research and development and high-tech industries if it's to avoid an economy based largely on natural resources exports.

The Harper government on Thursday invited investors to submit bids on the CANDU reactor division of Atomic Energy of Canada Ltd., the latest step in the government's plan to restructure the Crown corporation.

In a news release, the government said bids would be assessed on how well they meet a number of objectives, which include: "ensuring that Canadians have nuclear as a safe, reliable, and economic clean energy option; controlling costs to the government while maximizing the return on the taxpayers' investment; and positioning the nuclear industry in Canada to seize domestic and global opportunities."

"Nuclear energy is an emission-free source of power that is experiencing a renaissance around the world," Natural Resources Minister Lisa Raitt said in a statement.

[. . .]

A government review released at the time concluded the reactor division was simply too small to compete with global nuclear giants. This fall, investment bank Rothschild submitted recommendations on how the restructuring should proceed, but the government has so far declined to release the report.

A number of nuclear players are believed to be interested in the CANDU division, including Areva, which is majority owned by the French government, as well as SNC-Lavalin and Bruce Power.