Canada Growth Fund and Building Ontario Fund commit C$3 billion for 22.5% of the Darlington SMR project

Ontario Power Generation/Darlington New Nuclear Project

The federal Canada Growth Fund will put in up to C$2 billion for a 15% stake and Ontario's Building Ontario Fund up to C$1 billion for 7.5%, with OPG remaining majority owner and operator. The money comes in two tranches, for unit 1 and then units 2-4 as milestones are met, and is meant to draw in private and Indigenous investors later.

• Canada Growth Fund: up to C$2bn for 15%; Building Ontario Fund: up to C$1bn for 7.5%.
• Four units, 1,200 MW; first unit expected online in 2030.
• About 3,700 skilled jobs a year projected during the project.