Several Ontario First Nations are set to become owners of a new nuclear reactor after striking a commercial partnership with the federal and provincial governments.
Ottawa and Ontario are providing loan guarantees of $700 million to the seven Williams Treaties First Nations east of Toronto that will turn into equity for one of the four small modular reactors that are being built at the Darlington New Nuclear Project in Bowmanville, Ont., by Ontario Power Generation.
Energy and Mines Minister Stephen Lecce says this is the first equity partnership with First Nations in a nuclear reactor in Canada.
He says the investment will result in a minority stake for the First Nations in the facility and will help with economic reconciliation.
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The Williams Treaties First Nations consist of Indigenous communities near Lake Ontario and Lake Simcoe: Alderville First Nation, Curve Lake First Nation, Hiawatha First Nation, Scugog Island First Nation, Chippewas of Beausoleil First Nation, Chippewas of Georgina Island First Nation and the Chippewas of Rama First Nation.
The official announcement is set to come Tuesday morning.
The Chiefs of the Williams Treaties First Nations are calling the deal a “historic step forward.”
“Through this investment, we are not only creating opportunities for our own communities – we are helping advance a project that will play an important role in meeting Ontario and Canada’s growing energy needs,” The chiefs said in a statement.
“This investment demonstrates what is possible when First Nations are able to participate meaningfully in projects taking place within their territories, not only as rights holders, but as investors, partners, and participants in the long-term success of the project.”
The first of four small modular reactors is under construction at the Darlington power plant.
“After breaking ground on the first SMR in the G7, our government is taking another historic step, helping to bring First Nations in as full partners in this once-in-a-generation project,” Lecce said in a statement.
The four small modular reactors are expected to cost $21 billion. The first reactor is scheduled to be completed by 2030.
Once in operation, the small modular reactors will produce 1,200 megawatts of power, which is enough to keep the lights on at 1.2 million homes.
More wasted taxpayers dollars on indigenous.
Great, we are giving their leaders even more money to embezzle and then whine about how they’re all poor and it’s our fault
Can the government not find real proponents? Or are they still holding capital investment hostage with over regulation?
So Carnival Carney is giving away part of a nuclear reactor that Canadian tax payers paid for, to natives. WHY? Enough of the give aways.
It is not taking place on their land. It is being built on Ontario land. They have no rights to this. – As we give them the money $700 million of our money, how are they called investors? Freeloaders is what they really are. Are the participants willing to work for their paychecks, or are they token natives, untrained and unskilled. – This will be nothing but a drain.
I guess if you repeat it often enough they will be First, and Nations. They are small tribes, not nations, and they are settlers just like other Canadians.
Why give the Indians the money why not just invest it in the reactors directly this is nonsense
How much are the First Nations putting up for part ownership?? Why do they feel that they are entitled to ownership unless the are footing some of the bill. The indigenous of this country have done nothing to better themselves, their communities or this country. Why do we bow to these criminals?? They take taxpayers dollars. Lie, steak and refuse to acknowledge where it goes. Their chiefs live like kings their people are kept destitute. Perhaps they need to clean up their own backyard before interfering in our country
Loan guarantees? You mean the taxpayers are buying it. Why not hand out more.
Yes.. along with the security alignment with China the recent mou we can’t see also included a nuclear energy pact. That is who is behind many of these fn groups. They are just the scapegoat that no one will question that allows them a foot hold and to gain more ground.