Parties
Company
Bruce Power L.P.
Bank
Scotia Capital
Bank
CIBC World Markets
Bank
RBC Capital Markets, LLC
On March 7, 2024, Bruce Power, a leader in clean energy, issued an additional $600 million in Green Bonds, totaling $1.7 billion across three offerings. This move follows Canada's updated Green Bond Framework, which now includes nuclear energy, aligning with federal and provincial support for nuclear power in climate change efforts. The funds will support Bruce Power’s Life Extension Program, extending its clean, emissions-free electricity supply to Ontario. In November 2023, Bruce Power updated its Green Financing Framework, rated ‘Medium Green’ by S&P Global Ratings, aligning with Green Bond and Green Loan Principles.
The company’s sustainability efforts are part of Ontario’s clean energy infrastructure, contributing to the coal phase-out and aiming for Net Zero by 2027. Bruce Power’s Major Component Replacement project is progressing, with Unit 6 back online and Unit 3’s overhaul on schedule. Its strong Environmental, Social, and Governance (ESG) performance, rated by Morningstar Sustainalytics, places Bruce Power as a leading entity in sustainable energy and ethical business practices within the global utilities sector.
Deal Type
Public/Private OfferingIndustry
EnergyTransaction
$ 400,000,000Deal Status
ClosedClosing Date
12 March 2024