EDMONTON - The recession appears to be having little impact on a multibillion-dollar bid by Ontario-based Bruce Power Ltd. to bring the first nuclear reactors to Alberta and Saskatchewan.

Bruce Power chief executive Duncan Hawthorne says long-term atomic power projects may be able to sidestep the current global economic turmoil because they wouldn't actually be built for several years.

"The economic climate is a cause for concern for all of us," Hawthorne said in an interview.

"But it doesn't necessarily mean that those conditions will still be there when it comes time to make a big investment decision."

Alberta Energy Minister Mel Knight said nuclear energy is becoming a more attractive option for Alberta and other provinces that rely heavily on coal and natural gas to generate power.

"The nuclear renaissance is here," Knight said in an interview. "I'm not saying I'm for it or against it, but it's here."

Now is the time to be building massive power projects because labour and construction costs have fallen dramatically due to the recession compared to just a few months ago, he said.

Knight also expressed optimism that nuclear projects will survive at a time when nervous lenders are becoming more wary of which projects to back.

"These things require huge up-front capital," said Knight. "And any time you can pare away 10 or 15 per cent of that cost, on a long-term basis their power becomes that much more reasonable.

"They're probably not impaired by this capital crunch."

But nuclear power has yet to win policy approval from the Alberta government, a key requirement for any reactor project.

Bruce Power has started ramping up a public relations campaign in four Alberta cities as the government prepares to gauge how people feel.

Billboards were recently erected in Calgary, Edmonton, Grande Prairie and Peace River trumpeting Bruce Power Alberta as a green energy provider.

"Exploring opportunities for growth in Alberta," say the billboards. "Next-generation nuclear, hydrogen, wind, solar."

But Bruce Power has no wind, solar or hydrogen generation in Alberta. And that has been noticed by critics.

"Bruce Power is obviously wrapping themselves up in warm fuzzy products that they think people are going to want," said Kevin Taft, energy critic for Alberta's Liberal Opposition.

"(They are) trying to paint themselves green when it's really a glow-in-the-dark kind of radioactive product."

"We're going to see a tremendous public reaction on this debate," said Taft. "This is the wrong time, it's the wrong product and it's the wrong place for nuclear power."

Albert Cooper, a senior executive with Bruce Power Alberta, said the billboards are being used to help Albertans recognize the company.

"We wanted them to understand that we're looking at an energy hub that will include nuclear, and possibly hydrogen, wind and solar," said Cooper. "Bruce Power currently operates a wind farm in Ontario."

The company has been lobbying for months in northern Alberta communities, where it hopes to build at least two reactors if all political, environmental and financial hurdles can be cleared.

However, Alberta Premier Ed Stelmach has assured Albertans they'll be consulted before any decision is made.

Hawthorne concedes the company needs the province to be on board before any reactor projects can go ahead.

"Why would we think about making a multibillion-dollar investment in a place where we're not wanted?" he asked. "We think we have something to offer. If people don't agree with that, then there's other places we can operate."

Bruce Power is also dangling the nuclear carrot in Saskatchewan and Premier Brad Wall's government seems receptive. The province already has a feasibility study and public consultations are next.

Lyle Stewart, minister of enterprise and innovation, said Saskatchewan has large deposits of uranium, so nuclear power is a good fit.

"I think we can pull it off if we have a willing builder and if the public endorses the idea," said Stewart, who explained that surplus power would probably be sold to the United States.

"There is such a demand for power in Western Canada and the western half of the United States," he said. "I don't think we can produce too much power between our two provinces to saturate that demand."

There's enough power demand on the horizon to justify two reactors in each province, Hawthorne said.

The price tag would be huge -- up to $24 billion in total.

Both Knight and Hawthorne said they're looking past the current global recession, because the reactors would take several years for approval and construction.

But Stewart is more cautious about the possibility that jittery lenders could put a kink in proposals.

"I suppose there's a possibility that the economic downturn could play a major role in this thing," he said. "Could be a deal-killer in fact.

"But a nuclear build for Saskatchewan would be some years down the road and I would expect -- and certainly hope for -- different economic circumstances by then."