October 23, 2025
RED FM News Desk
The federal and Ontario governments are investing a combined $3 billion in a major clean energy project to build four small modular nuclear reactors (SMRs) in the Greater Toronto Area.
Prime Minister Mark Carney has designated the Darlington New Nuclear Project as being in the national interest, fast-tracking its approval and development. He joined Premier Doug Ford at the Darlington site east of Toronto on Thursday to announce the funding — $2 billion from the Canada Growth Fund and $1 billion from Ontario’s Building Ontario Fund.
Carney called the project “a generational investment” that will strengthen Canada’s position as a global clean energy leader.
“We are an energy superpower, and we are only getting stronger,” he said.
Ontario Power Generation estimates the full project will cost about $21 billion. The Canadian Nuclear Safety Commission granted OPG a construction licence for the first reactor earlier this year, and work began in the spring. The first SMR is expected to be operational by 2030, making Canada the first G7 country to deploy this new generation of nuclear technology.
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