Darlington Small Modular Reactor

Sector(s)
Clean Power
Location(s)
Clarington, Ontario
Participation
$970 million
Partner(s)
Ontario Power Generation

Investing in Phase 1 of Canada’s first small modular reactor

Sustainable, clean energy to support Ontario’s grid and lower greenhouse gas emissions.

Fast facts

Once built, the SMR will reduce carbon emissions by an average of 740 kilotonnes annually between 2029 and 2050
Project will spearhead other Canadian SMR projects being considered in Saskatchewan, New Brunswick and Alberta

We are investing $970 million towards the SMR’s capital costs for Phase 1 which includes project design, procurement of long lead-time equipment, utility connections, site preparation and project management requirements.

SMRs are a new class of nuclear reactors of 300 megawatt or less which are designed with modular technology, resulting in enhanced safety, economies of scale and expected shorter construction schedule compared to traditional nuclear generating stations

The 300-megawatt SMR will provide enough electricity to power 300,000 homes.

Benefits of CIB Involvement

CIB fills gaps in funding and financing on projects where public and private investment are both required. In this project the economic gap is caused by higher costs associated with it being a first of a kind with unique circumstances that limit early private sector interest.

CIB has priority sectors including Clean Power – this project is consistent with the CIB’s goal of accelerating emission reductions.

Learn more

OPG

We know nuclear energy, including from SMRs, is an essential part of the electricity mix to help meet our climate change goals. This low-interest financing helps us advance the Darlington New Nuclear Project, paving the way for development and deployment of the next generation of nuclear power in Canada.

Ken Hartwick, OPG President and CEO
Minister of Natural Resources

Today’s announcement represents a significant step towards the development of a non-emitting electricity grid and a prosperous net-zero future. The deployment of one of Canada’s first Small Modular Reactors (SMR) at Darlington Station will further enhance Canada’s leadership in nuclear technology, create sustainable jobs, and reduce emissions. This announcement represents an important step forward for energy security and availability in Canada.

The Honourable Jonathan Wilkinson, Minister of Natural Resources
Minister of Energy

Ontario is leading the way when it comes to new nuclear technologies and the world is watching as we build the first ever grid-scale SMR at Darlington. Today’s investment is a demonstration of the incredible opportunities of SMRs and nuclear power as a way to produce clean electricity to attract new investment, create jobs, and grow our economy while supporting electrification.

The Honourable Todd Smith, Minister of Energy