Ontario Power Generation (OPG) has unveiled a new Sustainable Finance Framework, expanding its 2021 Green Bond Framework to support a wider array of clean energy initiatives.
The updated framework allows OPG to use funds from green bonds for new nuclear projects, including small modular reactors (SMRs), as well as for the maintenance and refurbishment of existing nuclear facilities.
“As Canada’s largest corporate green bond issuer, expanding our eligible use of proceeds from these bonds recognizes growing demand for clean electricity and OPG’s commitment to advancing economic Reconciliation with Indigenous Nations and communities,” said OPG CFO Aida Cipolla.
This broader financing scope also supports renewable energy projects like solar, wind, and hydrogen production, as well as energy efficiency initiatives and climate resilience efforts. OPG’s ongoing work includes the construction of SMRs at the Darlington New Nuclear site and refurbishments at the Darlington and Pickering plants, contributing to Canada’s clean energy future.
Date: June 2024
