Several Ontario First Nations are on the brink of acquiring a new nuclear reactor through a business partnership with the federal and provincial governments. Ottawa and Ontario have pledged $700 million in loan guarantees to the seven Williams Treaties First Nations, which will convert into ownership equity for one of the four small modular reactors being constructed at the Darlington New Nuclear Project in Bowmanville by Ontario Power Generation.
Ontario Energy and Mines Minister Stephen Lecce highlighted that this marks the first time First Nations in Canada will have an ownership stake in a nuclear reactor. The investment will grant the First Nations a minority share in the facility and promote economic reconciliation.
The Williams Treaties First Nations encompass Indigenous communities near Lake Ontario and Lake Simcoe, including Alderville First Nation, Curve Lake First Nation, Hiawatha First Nation, Scugog Island First Nation, Chippewas of Beausoleil First Nation, Chippewas of Georgina Island First Nation, and the Chippewas of Rama First Nation.
Finance Minister François-Philippe Champagne emphasized that Indigenous ownership is part of the federal government’s strategy to position Canada as an energy powerhouse. The deal has been hailed as a significant advancement by the chiefs of the Williams Treaties First Nations, who see it as an opportunity to contribute to meeting the energy demands of Ontario and Canada.
The construction of four reactors at a cost of $21 billion is underway, with the first reactor slated for completion by 2030. Once operational, the small modular reactors will generate 1,200 megawatts of power, sufficient to power approximately 1.2 million households.