Bruce Power raises $580M in green bonds, its sixth issue since 2021
What's the deal? Bruce PowerDealroom has a profile for this one. Try Dealroom → has completed a C$800 million (roughly $580 million) green bond offering, the nuclear operator said. The private placement closed on September 3, marking the Tiverton, Ontario-based company's sixth green bond issue since 2021.
By the numbers: Across those six offerings, Bruce Power has raised C$4.1 billion. That places this issue among the largest debt raises on record for an energy company in Canada — above the 93rd percentile of comparable deals tracked all-time.
What's the endgame? The proceeds back Bruce Power's Life-Extension Program and Project 2030, which aim to preserve and expand its nuclear output for Ontario. Green bonds work like traditional fixed-income instruments, but the money is earmarked for environmental and climate projects.
Why now? The company is midway through a Major Component Replacement (MCR) project to refurbish Units 3 through 8 by 2033. Unit 6 returned to service in 2023, and Unit 3 came back online this past June; Unit 4's refurbishment is forecast to finish ahead of schedule.
What they're saying: The issue "reflects the important role Bruce Power plays in delivering long-term value for Ontario through investment in clean, reliable nuclear energy," chief financial officer Kevin Kelly said in a release. He added that investor demand "underscores confidence" in the company's refurbishment programs.
The signal: Nuclear is drawing renewed investor interest as governments court emissions-free, always-on power to meet rising electricity demand. Bruce Power's repeated tapping of the green bond market — one of Canada's largest clean energy financing efforts — shows how large infrastructure operators are using climate-labelled debt to fund long-horizon builds.
Read more: bayshorebroadcasting.ca
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