Bruce Power issues new round of Green Bonds

By Janice MacKayMarch 27, 2023 

Bruce Power has issued $600 million in Green Bonds which the company said supports Net Zero goals through clean-energy projects. This is the second issue of the bond.  Bruce Power became the first nuclear operator in the world to successfully issue Green Bonds in 2021, raising $500 million. That money was invested into eligible life extension and output boosting projects to advance Bruce Power’s climate change goals.

Bruce Power says nuclear technology plays a critical role in fighting climate change and enabling a Net Zero future by producing emissions-free power.

Minister of Energy Todd Smith praised Bruce Power for its delivery of its Major Component Replacement Program, which he said will increase the amount of clean power  produced, helping the province power the growing economy.

“Clean nuclear energy from the Bruce Power site plays a major role in making Ontario’s electricity system one of the cleanest in the world,” said Hon. Todd Smith, Minister of Energy. “I commend Bruce Power for the delivery of its Major Component Replacement Program, which is increasing the amount of clean power it produces, helping theprovince power our growing economy.”

“It has become more clear that there is no path to Net Zero without large-scale nuclear, here and around the world,” said Mike Rencheck, Bruce Power’s President and Chief Executive Officer. “Ontario has established itself as a world leader in the production of clean energy and clean energy projects such as our Major Component Replacement, which is part of our Life-Extension Program that will see Bruce Power continue to provide clean energy and medical isotopes to people, businesses and hospitals for decades to come, while also stimulating the economy.”

“Bruce Power’s Green Bonds allow investors to participate in climate-friendly critical power infrastructure investment to extend the life of the Bruce Power site,” said Kevin Kelly, Bruce Power’s Chief Financial Officer and Executive Vice President, Finance and Business Development. “We remain steadfast in our commitment to see Bruce Power provide low-cost, emissions-free power to the Ontario supply mix through 2064 and beyond.”