BOWMANVILLE, ON, Oct. 23, 2025 /CNW/ - In a rapidly changing and uncertain world, Canada's new government is focused on what we can control. We are protecting our communities and our country. We are building our economy with major projects and millions more homes. We are empowering Canadians with lower costs and new opportunities to help you get ahead. We cannot control what other nations do, but we can control what we choose to build – and we are building Canada strong.
Canada's new government is moving decisively to build major nation-building projects that create high-paying careers, reduce emissions, and grow our economy.
To that end, the government launched the Major Projects Office to cut red tape and fast-track major nation-building projects. Last month, the Prime Minister, Mark Carney, announced the first wave of projects referred to the Major Projects Office for review. One of these projects is the Darlington New Nuclear Project (DNNP) in Bowmanville, Ontario – a catalyst for new jobs, industrial growth, and our clean-energy future that will put Canada at the forefront of global nuclear innovation.
Today, the Prime Minister announced that the Canada Growth Fund will invest $2 billion to support the construction and operation of the four small modular reactors (SMRs) at the DNNP. This project will make Canada the first G7 country to bring SMR technology online and drive $500 million annually into Ontario's nuclear supply chain. Once complete, Darlington's first of four SMRs will provide reliable, affordable, clean power to 300,000 homes, while sustaining 3,700 jobs annually, including 18,000 during construction, over the next 65 years.
Prime Minister Carney was joined by the Premier of Ontario, Doug Ford, who announced that the Government of Ontario will invest $1 billion in this project through the Building Ontario Fund. Ontario Power Generation remains the majority owner and operator of the DNNP, with the Canada Growth Fund and the Building Ontario Fund acquiring meaningful minority stakes in the project, representing 15% and 7.5% ownership, respectively.
This investment will strengthen Ontario's power grid and represents the kind of nation-building projects that defines Canada's new economic approach. Together, the Government of Canada and the Government of Ontario are demonstrating Canada's ability to meet the highest standards in developing world-class assets efficiently, cost-effectively, and competitively.
By unleashing private investment, advancing energy security, and strengthening the industrial base that will power the clean-energy transition, we are building Canada strong.
Quotes
"The Darlington New Nuclear Project will create thousands of high-paying careers and power hundreds of thousands of Ontario homes with clean energy. This is a generational investment that will build lasting security, prosperity, and opportunities. We're building big things to build Canada Strong."
-- The Rt. Hon. Mark Carney, Prime Minister of Canada
"Today's investment to support the first SMRs in the G7 is a downpayment on Ontario's nuclear energy future. We're protecting Ontario by supporting good-paying, long-term jobs for Ontario workers and building the energy infrastructure – including both SMRs and new, large-scale nuclear – needed to make Ontario an energy superpower."
-- The Hon. Doug Ford, Premier of Ontario
"Capitalising on big opportunities requires thinking big, acting fast, and making the kinds of generational investments that provide a means to achieve our ambitions – creating jobs, growing our economy, and reducing emissions while lowering long-term energy costs. The Darlington New Nuclear Project will stimulate demand for clean energy technologies and green construction jobs as the first initiative of its kind among G7 countries. By supporting Canadian ingenuity and innovation, we are helping pave the way for the use of this technology not only here in Canada but around the world."
-- The Hon. François-Philippe Champagne, Minister of Finance and National Revenue
"The financing we're providing to the Darlington New Nuclear Project will pave the way for a future where Canadian energy fuels our economy at home and provides export opportunities for Canadian expertise. By uniting government, industry, and Indigenous partners, we are not only creating thousands of good jobs in Ontario, but building out affordable, reliable power that Canadians can depend on."
-- The Hon. Tim Hodgson, Minister of Energy and Natural Resources
"This is one of many milestones to come for major projects like Darlington – projects that hold transformative power to turbocharge and connect our economy, diversify our products and markets, and create hundreds of thousands of high-paying careers. Through the Major Projects Office, we will be moving these projects faster and more efficiently, building one Canadian economy together."
-- The Hon. Dominic LeBlanc, President of the King's Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy
Quick facts
- The DNNP will be the first grid-scale SMR in the G7.
- Earlier this year, the Government of Ontario approved Ontario Power Generation to move forward with construction of its first of four rate-regulated SMRs as part of this project.
- At its full potential of four SMRs, the DNNP will provide 1,200 megawatts of clean, reliable electricity – enough to power about 1.2 million homes (more than the number of households in the Greater Toronto Area) – while reducing carbon emissions by an average of up to 2.3 million tonnes annually between 2029 and 2050.
- As part of its mission, the Major Projects Office:
- collaborates with key partners – including project proponents, Indigenous Peoples, investors, and all levels of government – to facilitate the development of major projects that will benefit Canada.
- works to identify and advance nation-building projects, including through the Building Canada Act.
- acts as a single window for project proponents into the federal regulatory process to simplify and accelerate project approvals.
- The Canada Growth Fund was established in 2022 to ensure Canada continues to be a leading destination for investment and to drive innovation across new and traditional sectors of Canada's industrial base. To date, it has built a diverse and impactful portfolio – with 16 portfolio companies representing a total commitment of $4.75 billion.
- The Canada Growth Fund is a $15 billion arm's length public investment vehicle launched by the federal government to attract private capital and invest in Canadian projects and businesses. It makes strategic investments to help Canada meet the following national economic and climate policy goals:
- Reduce emissions and achieve Canada's climate targets.
- Accelerate the deployment of key technologies, such as clean electricity.
- Scale-up companies that will create jobs and drive productivity and clean growth across new and traditional sectors of Canada's industrial base.
- Encourage the retention of intellectual property in Canada.
- Capitalise on Canada's abundance of natural resources and strengthen critical supply chains to secure Canada's future economic and environmental well-being.
Associated links
This document is also available at https://pm.gc.ca
SOURCE Prime Minister's Office
PMO Media Relations: [email protected]
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