Bruce Power.
Bruce Power issued nearly $1-billion in “Green Bonds” to support operations and clean energy projects.
The Tiverton-based nuclear operator says an offering closed Dec. 8 on a private placement and the company is issuing $950-million in bonds.
According to a release, the Ontario government announced its new Sustainable Bond Framework in January 2024. It included nuclear for the first time, “specifying that measures supporting the deployment of nuclear energy to generate electricity and/or heat as eligible under the Clean Energy category.”
Bruce Power has issued $3.3-billion in Green Bonds through five offerings since 2021.
“Bruce Power is committed to nuclear’s role in a clean energy future and Canada’s energy independence,” Bruce Power Executive Vice-President and Chief Financial Officer Kevin Kelly says in a statement. “Our Green Bonds allow investors to participate in one of Canada’s largest clean-energy infrastructure investments with Bruce Power’s Life Extension Program and other projects, allowing us to provide non-greenhouse-gas-emitting electricity to Ontario for decades to come.”
Minister of Energy and Mines Stephen Lecce: “Bruce Power’s latest Green Bond issuance is another strong vote of confidence in Ontario’s clean energy advantage. As our government doubles down on nuclear expansion, we’re attracting major investment and confidence in our clean energy future. We are proud to work with Bruce Power to strengthen the infrastructure that powers our communities, supports good-paying jobs, and keeps costs down for families.”
Bruce Power is currently undertaking its Major Component Replacement project, which will seat its Units 3-8 reactors refurbished by 2033. Unit 6 was already renewed and returned to service in 2023.
“And Unit 3 and Unit 4 MCR outages remaining on track,” a release from Bruce Power explains.