Today, Canada Indigenous Loan Guarantee Corporation (CILGC), part of the Canada Development Investment Corporation (CDEV) Group of Companies, announced an historic loan guarantee for Williams Treaties First Nations LP to take an ownership stake in one of Canada's major projects, the Darlington New Nuclear Project (DNNP). CILGC is issuing this loan guarantee in fifty-fifty partnership with the Province of Ontario through the Indigenous Opportunities Financing Program, administered by Building Ontario Fund--further demonstrating the strong relationship between Ontario and Canada on projects of national significance and reconciliation. This is the largest Indigenous loan guarantee ever issued and will support Canada's plan to build the first Small Modular Reactors (SMRs) in the G7.
Williams Treaties First Nations LP plans to invest $700 million in the Darlington New Nuclear Project in a deal that will result in equity ownership in the project's regulated rate base once the project becomes fully operational. Participating First Nations will share in the long-term revenues generated by this clean electricity facility that will benefit Ontario and Canada for generations.
"This investment marks a new era of Indigenous participation in Canada's major projects and our shared economic future," said Kristan Straub, President and Chief Executive Officer of CILGC. "The Darlington New Nuclear Project is a landmark clean electricity investment, and with today's announcement, in partnership with the Building Ontario Fund, Williams Treaties First Nations will be partners at scale in a major project--something they, and other Indigenous peoples, have been ready for for a very long time. Indigenous ownership is central to Canada's energy future and long-term economic growth. This is what economic reconciliation is all about."
"CDEV exists to translate public policy objectives into commercially viable national initiatives. It is exciting to be able to announce support for a major project in clean energy, with a major investment from an Indigenous partner. This project will build world-leading clean energy capacity and bring long-term economic benefit to First Nations and all of Canada. Getting projects built with Indigenous peoples as real partners is one of the ways CDEV is providing structural support to help the government build a strong, sovereign economy," said Elizabeth Wademan, President and Chief Executive Officer of CDEV.
Darlington New Nuclear Project is among the first of Canada's new major projects to be undertaken. It is expected to play a critical role in supporting long-term electricity reliability, emissions reductions, economic competitiveness, and energy security in Ontario and across Canada, and be exportable technology for our partners. This transaction represents another step forward in expanding Indigenous ownership of major economic assets through Canada's $10-billion Indigenous Loan Guarantee Program. The investment by WTFN means seven First Nations, with a long history in these territories in Ontario, will benefit from nuclear energy at scale, reinforcing the government's commitment to economic reconciliation and self-determination.
Quick Facts
- The Darlington New Nuclear Project will construct up to four Small Modular Reactors and represents an investment of approximately $21 billion across all units and shared infrastructure. At its full potential, the project will be able to power about 1.2 million homes, reducing annual carbon emissions by an average of 2.3 million tonnes.
- Approximately $715 million in guaranteed debt is supporting the investment, with CILGC and the Building Ontario Fund each providing approximately $357.5 million in loan guarantees. The transaction represents the first collaboration between CILGC and a provincial loan guarantee program.
- In September 2025, Prime Minister Carney referred the Darlington New Nuclear Project to the Major Projects Office.
- CDEV provides the Government of Canada with specialized financial advisory around the country's most complex and diverse commercial interests. For over 40 years, CDEV, a federal Crown corporation reporting to the Minister of Finance, has been the entity of choice for critical financial transactions needed to help Canada achieve its goals and maximize the value of government corporate assets.
- CILGC, a wholly owned subsidiary of Canada Development Investment Corporation (CDEV), delivers the $10 billion Indigenous Loan Guarantee Program and issues loan guarantees on behalf of Canada.
Related Links
- To learn more about the Indigenous Loan Guarantee Program: www.cilgc-cgpac.ca
- To learn more about CDEV: cdev.gc.ca
SOURCE Canada Development Investment Corporation
Contacts: Anick Losier, VP, Communications, Canada Development Investment Corporation, [email protected]
Share this article