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Canada Indigenous Groups to Invest $700 Million in 1st Small Modular Reactor in Ontario

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The Williams Treaties First Nations will invest $700 million in Ontario Power Generation's Darlington New Nuclear Project, which will be Canada's first grid-scale small modular reactor, it said on Tuesday.

The investment is structured to support long-term participation in the facility and creates a mechanism for future Indigenous participation in infrastructure development in the Williams Treaties Territories.

Williams Treaties First Nations include seven Michi Saagig and Chippewa Anishinaabeg Nations who are signatories to the Williams Treaties. Their traditional lands lie across much of south-central Ontario, including several lakes.

The investment benefits from a loan guarantee from the Canadian Indigenous Loan Guarantee Corporation, owned by Canada Development Investment Corporation.

Ontario provincial government is also a 50% guarantor of the loan guarantee through the Indigenous Opportunities Financing program, administered by the Building Ontario Fund.

The financing will be provided by a syndicate of Canadian lenders including Manulife, SLC Management and iA Financial Group participating.

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