RC122 JanFeb 2026 - Magazine - Page 6
FRONT
FEDS, ONTARIO INVEST $3B IN
DARLINGTON NEW NUCLEAR PROJECT
Prime Minister Mark Carney
and Ontario Premier Doug
Ford announced $3-billion in
funding for OPG’s Darlington
New Nuclear Project.
6—RENEW CANADA – JANUARY/FEBRUARY 2026
THE PROVINCE OF ONTARIO and the federal government announced $3 billion in investments in
the 昀椀rst small modular reactors (SMRs) in the
G7 at Darlington Nuclear Station, including a
$1 billion provincial investment through the
Building Ontario Fund and a $2 billion federal
investment through the Canada Growth Fund,
respectively.
Once construction of the four SMRs is
complete, the Darlington New Nuclear
Project will produce 1,200 megawatts (MW)
of electricity, enough to power the equivalent
of 1.2 million homes.
“Today’s investment to support the
昀椀rst SMRs in the G7 is a down payment
on Ontario’s nuclear energy future,” said
Premier Doug Ford.
“This is a generational investment that
will build lasting security, prosperity and
opportunities. We’re building big things to
build Canada Strong,” added Mark Carney,
Prime Minister of Canada.
Construction on the 昀椀rst SMR began in
May 2025, with the SMR expected to come
online in 2030. The funding will support
the construction and operation of the 昀椀rst
SMR with an innovative model to allow for
additional private sector and Indigenous
investment.
OPG remains the majority owner and operator of the Darlington New Nuclear Project,
with Canada Growth Fund and Building
Ontario Fund acquiring meaningful minority
stakes in the Project, representing 15 per cent
and 7.5 per cent ownership, respectively.
“This is a watershed moment for Building
Ontario Fund and demonstrates our catalytic
role in 昀椀nancing large-scale infrastructure
projects,” said Michael Fedchyshyn, CEO of
Building Ontario Fund.
RENEWCANADA.NET
GOVERNMENT OF ONTARIO
“This is a generational
investment that will
build lasting security,
prosperity and
opportunities.”
