The Canada Indigenous Loan Guarantee Corporation (CILGC) has issued a landmark loan guarantee to Williams Treaties First Nations LP, enabling a $700 million equity investment in the Darlington New Nuclear Project (DNNP). This investment marks one of the largest Indigenous infrastructure investments in Canadian history and supports the construction of Canada's first grid-scale small modular reactor (SMR), also the first in the G7.
Historic Loan Guarantee Details
The loan guarantee was issued in a fifty-fifty partnership with the Province of Ontario through the Indigenous Opportunities Financing Program, administered by the Building Ontario Fund. CILGC, part of the Canada Development Investment Corporation (CDEV) Group of Companies, described this as the largest Indigenous loan guarantee ever issued. The partnership underscores the collaboration between federal and provincial governments on projects of national significance and economic reconciliation.
Williams Treaties First Nations LP plans to invest $700 million in the DNNP, securing equity ownership in the project's regulated rate base once fully operational. Participating First Nations will receive long-term revenue from the clean electricity facility, benefiting Ontario and Canada for generations.
Quotes from Officials
“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.”
Elizabeth Wademan, President and Chief Executive Officer of CDEV, added: “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.”
Impact on Indigenous Communities
The investment represents a significant step toward economic reconciliation, enabling Indigenous communities to become equity partners in major energy infrastructure. The Darlington New Nuclear Project, located in Ontario, will deploy SMR technology—a smaller, modular nuclear reactor designed for scalable clean energy generation. This project is part of Canada's broader strategy to achieve net-zero emissions by 2050 while ensuring energy security.
The CILGC loan guarantee program was established to de-risk Indigenous investments in major projects, fostering long-term economic participation. The partnership with Ontario's Building Ontario Fund further leverages provincial resources to support Indigenous ownership. This model is expected to be replicated in other large-scale projects across Canada.
