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Several First Nations Sign Deal with Ottawa, Ontario to Own Part of a Nuclear Reactor
The $715 million guarantee will help seven Williams Treaties First Nations buy a minority stake in the first reactor and share future revenues.
- On Tuesday, Finance Minister François-Philippe Champagne, Ontario Finance Minister Peter Bethlenfalvy, and Energy Minister Stephen Lecce announced a $715 million loan guarantee securing the Williams Treaties First Nations a minority equity stake in the Darlington New Nuclear Project near Bowmanville, Ont.
- The initiative draws on backing from the federal Indigenous Loan Guarantee Program and the Building Ontario Fund, which are each providing half of the total financial support to foster economic reconciliation.
- This investment grants the First Nations a 7.8 per cent equity stake in the first of four small modular reactors; the project costs nearly $21 billion and will eventually power 1.2 million homes.
- Describing the deal as a "historic step forward," the chiefs of the Williams Treaties First Nations stated that communities will benefit directly from long-term project revenues while advancing regional energy needs.
- Aligning with the federal nuclear strategy launched on Monday, the investment supports broader national efforts to construct 10 large-scale reactors and position Canada as a global exporter of nuclear technology.
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Williams Treaties First Nations Announce Historic $700 Million Investment in Darlington New Nuclear Project
Largest collective First Nations investment in nuclear generation in Canada establishes long-term Indigenous participation in Ontario’s energy future...
Coverage Details
Total News Sources25
Leaning Left8Leaning Right2Center5Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
C 33%
13%
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