September 10, 2026
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Bruce Power has issued a new offering of $800-million in Green Bonds as it continues to power Ontario’s economy forward through made-in-Canada operations and projects.
The company priced an offering of Green Bonds on a private placement basis in each of the provinces of Canada and the closing of the offering took place Sept. 3.
Bruce Power became the first nuclear operator in the world to issue Green Bonds in 2021 and since then, has cumulatively issued $4.1-billion through six offerings.
The company has a strong track record of delivering clean energy projects, including its Major Component Replacement (MCR) project, which will see Units 3-8 refurbished by 2033. A renewed Unit 6 was successfully returned to service in 2023, ahead of schedule and on-budget, and with quality through strong performance by skilled workers. Using lessons learned in Unit 6 and ground-breaking innovation, Unit 3 beat that performance when it was returned to service in June of this year. Strong performance continues in the Unit 4 MCR, which is forecasted to be completed ahead of schedule.
“This Green Bond issuance reflects the important role Bruce Power plays in delivering long-term value for Ontario through investment in clean, reliable nuclear energy,” said Kevin Kelly, executive vice-president and chief financial officer of Bruce Power. “Demand from investors underscores confidence in our Life-Extension Program and Project 2030, which are helping preserve a critical source of emissions-free electricity while positioning our site to support Ontario’s growing energy needs for decades to come. Through our Green Financing Framework, investors can directly participate in one of Canada’s largest clean energy infrastructure initiatives.”
In November of 2023, Bruce Power updated its Green Financing Framework, and S&P Global Ratings assessed the framework as ‘medium green’ on a scale of light, medium and dark. S&P Global Ratings indicated that the framework is aligned with the Green Bond Principles and the Green Loan Principles.
The company was a major contributor to Ontario’s coal phase-out in 2014 and supports many other environmental and sustainability initiatives across the province.
Bruce Power strives to advance its sustainability goals and further its position in minimizing the environmental impacts and upholding strong business ethics.
“While United States president Donald Trump attempts to undercut our economy, Ontario’s nuclear sector is super-charging it with the issuance of $800-million in Green Bonds from Bruce Power,” said Ontario energy minister Stephen Lecce. “This important investment is a vote of confidence in Ontario’s plan to build nuclear faster, better and on-time while creating 150,000 jobs and adding more than $800-billion to our GDP (Gross Domestic Product).”
The Green Bonds are being offered in each of the provinces of Canada by RBC Dominion Securities Inc., CIBC World Markets Inc. and National Bank Financial Inc. as lead agents, along with Scotia Capital Inc., TD Securities Inc. and BMO Nesbitt Burns Inc.
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