On October 4, 2007, BPC Generation Infrastructure Trust (BGIT) completed its C$750 million five-year term facility (with an option to renew for an additional five years) for part of the approximately C$3 billion project to refurbish Units 1 and 2 of Bruce Power's Bruce A nuclear facility. The lead arrangers were Scotia Capital and Dexia Credit Local SA, and the other participants were TD Bank, Bank of Montreal, Allied Irish Banks, PLC and Fortis Capital (Canada). The refurbishment, currently underway, is being paid for equally by BGIT (an investment entity of OMERS) and Trans Canada Energy Investments Ltd.
The financing, the first of its kind in Canada for a nuclear facility, won Euromoney's 2007 Project Finance Deal of the Year.
Units 1 and 2 are each 750 MW nuclear reactors located on Lake Huron, Ontario. Their restart is a key component of the Ontario government’s policy to improve the province’s electricity supply. When completed, Bruce Power will supply approximately 25% of Ontario’s electricity needs.