Department of Finance Canada announced a loan-guarantee transaction intended to support Indigenous ownership participation in the Darlington New Nuclear Project in Ontario.
The transaction would allow seven First Nations in Ontario, the Williams Treaties First Nations, to eventually own a significant minority interest in the project. Finance Canada described it as the largest Indigenous loan guarantee ever issued in Canada and one of the largest Indigenous investments in a major Canadian infrastructure project.
About half of the guarantee is provided through the federal Indigenous Loan Guarantee Program, while the other half is supported by Ontario's Indigenous Opportunities Financing Program, administered by Building Ontario Fund. Together, the two programs support about $715 million in financing for the investment.
The transaction is also the first collaboration between the Canada Indigenous Loan Guarantee Corporation and a provincial loan-guarantee program. Finance Canada said the structure is designed to help participating First Nations acquire an ownership stake and share in long-term revenues generated by the electricity-generation asset.
The Darlington project was referred to the Major Projects Office in September 2025. Finance Canada also noted that the Canada Growth Fund committed up to $2 billion in equity financing for the project in October 2025.
Once complete, the project is expected to make Canada the first G7 country with a small modular reactor. Finance Canada said it could drive $500 million annually into Ontario's nuclear supply chain and sustain about 3,700 jobs annually, with up to 18,000 jobs during construction.
At full potential, four planned reactors would provide 1,200 megawatts of electricity, enough to power about 1.2 million homes, while reducing carbon emissions by an average of up to 2.3 million tonnes annually between 2030 and 2050.
The announcement shows how public credit support is being used to expand Indigenous equity ownership in major infrastructure. It also ties the Darlington project to a wider federal strategy around energy capacity, public investment, economic reconciliation, and large projects considered nationally significant.