Seven First Nations communities collectively known as the Williams Treaties First Nations (WTFN) announced a CAD $700 million (approximately $493 million) investment in the Darlington New Nuclear Project (DNNP) on June 23, 2026, becoming equity partners in Canada's first grid-scale small modular reactor (SMR) project. The investment is structured as a loan that converts to equity once construction of all four planned SMR units is complete. Federal Finance Minister François-Philippe Champagne described it as the largest Indigenous loan guarantee ever issued in Canada.
The WTFN investment is backed jointly by the Canadian Indigenous Loan Guarantee Corporation (CILGC) and Ontario's Indigenous Opportunities Financing Program, administered by the Building Ontario Fund (BOF). Ontario and the federal government are sharing the guarantee on a 50/50 basis. The province says the equity participation will reduce borrowing costs for the project, with projected ratepayer savings of up to CAD $15 billion (approximately $10.6 billion) over the operating life of the four units. The seven participating nations are Alderville First Nation, Curve Lake First Nation, Hiawatha First Nation, Mississaugas of Scugog Island First Nation, Beausoleil First Nation, Chippewas of Georgina Island First Nation, and Chippewas of Rama First Nation.
Project Status and Scale at the Darlington Site
Construction on the first of the four SMR units is already underway at the existing Darlington nuclear site in Bowmanville, Ontario. The unit's basement was installed in April 2026, the first new reactor foundation poured in Canada in 30 years. Ontario Power Generation (OPG) received its Licence to Construct (LTC) from the Canadian Nuclear Safety Commission (CNSC) in April 2025 and filed its Licence to Operate (LTO) application in March 2026. The first unit is targeted for completion by 2030.
At full buildout, the four SMRs will generate 1,200 megawatts of electricity, enough to power approximately 1.2 million homes. The total project cost is estimated at CAD $21 billion (approximately $14.8 billion). The DNNP has already drawn prior capital commitments of up to CAD $2 billion from the Canada Growth Fund and up to CAD $1 billion from the Building Ontario Fund, announced in October 2025. The project is expected to contribute CAD $38.5 billion (approximately $27.1 billion) to Canada's gross domestic product (GDP) over its operational life and sustain approximately 3,800 jobs annually for 65 years, with 18,000 construction jobs during the build phase.
Nuclear power currently supplies about 50% of Ontario's electricity. The province's Darlington site has been the center of an ongoing refurbishment program that OPG has delivered on time and on budget, and the DNNP is intended to extend that track record into new-build territory. More than 100 Canadian companies are already part of the SMR supply chain, and Ontario announced a collaboration with France in recent months to export critical components for SMR projects internationally.
