Bruce Power is announcing that it will issue an additional $950 million in Green Bonds as it continues to power Ontario forward through operations and projects that drive the economy.
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 Dec. 8, 2025.
Since becoming the first nuclear operator in the world to issue Green Bonds in 2021, Bruce Power now has cumulatively issued $3.3 billion in Green Bonds through five offerings.
In January of 2024, Ontario released its new Sustainable Bond Framework, which 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, advancing sustainable finance to support projects in the province that are contributing to a sustainable future.
“Bruce Power’s latest Green Bond issuance is another strong vote of confidence in Ontario’s clean energy advantage,” said Stephen Lecce, Minister of Energy and Mines. “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 committed to nuclear’s role in a clean energy future and Canada’s energy independence,” said Kevin Kelly, Bruce Power Executive Vice-President and Chief Financial Officer. “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.”
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.
Bruce Power 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 budget, and Unit 3 and Unit 4 MCR outages remaining on track. 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.
The Green Bonds are being offered in each of the provinces of Canada by a syndicate of agents led by BMO Capital Markets, RBC Capital Markets, and TD Securities, which includes Scotia Capital, CIBC World Markets and National Bank Capital Markets.”
About Bruce Power
Bruce Power is an electricity company based in Bruce County, Saugeen Ojibway Nation Territory, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable nuclear power to families and businesses across the province and cancer-fighting medical isotopes around the world. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Formed in 2001, Bruce Power is a Canadian-owned partnership of TC Energy, OMERS, the Power Workers’ Union and The Society of United Professionals. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram, and YouTube.
Forward-Looking Information
Certain statements included in this news release constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “expects”, “plans”, “estimates”, “intends” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding the date of closing and the use of proceeds from the offering. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. Bruce Power cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Given the risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates.
