Latest news with #BuildingRetrofitsInitiative
Cision Canada
26-06-2025
- Business
- Cision Canada
The CIB commits $50 million towards Creative Energy retrofit projects Français
Disponible en français CIB's $50 million partnership with Creative Energy focused on deep decarbonization First project is at Thompson Rivers University (TRU), retrofitting 12 existing buildings across campus and providing low carbon heating to the new Indigenous Education Centre Reducing emissions from heating systems in the connected buildings on campus by 95%, advancing toward zero carbon by 2030 KAMLOOPS, BC, June 26, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) and Creative Energy have reached financial close on a $50 million loan to support the deep decarbonization of buildings through connection to district energy systems. The partnership will enable Creative Energy's clients in British Columbia and Ontario to reduce more than 90% of their emissions through options such as switching from natural gas heating to efficient electricity-based district energy systems. The first building retrofit project under the partnership will be at Thompson Rivers University, upgrading 12 buildings and providing heating capacity to one new building across its Kamloops, British Columbia campus. The campus will transition from decentralized natural gas heating to a high-efficiency electrified heat source using a centralized air-source and water-source heat pump strategy. The technology will reduce emissions from the heating systems in the connected building by 95%, creating a more sustainable campus for students and moving the university very close to its 2030 zero carbon goal. The CIB's agreement allows Creative Energy to advance and implement retrofit projects in the near term, quickly benefitting building owners and tenants. This partnership provides a long-term, flexible investment structure to incentivize building owners to upgrade their assets. Creative Energy is the owner and operator of one of North America's largest district energy systems. With buildings accounting for around 18% of Canada's total emissions, the CIB's retrofit investments aim to enhance building sustainability while reducing energy consumption and associated capital costs. Endorsements Our partnership with Creative Energy allows their tailored turnkey retrofit solutions designed to improve the efficiency of aging buildings to be implemented quickly, and address affordability concerns. This investment is part of the CIB's Building Retrofits Initiative which we've committed more than $1.2B towards financing sustainable building upgrades. Ehre n Cory, CEO, Canada Infrastructure Bank The CIB's partnership with Creative Energy provides building owners, like Thompson Rivers University, with the investments they need to improve energy efficiency, reduce greenhouse gas emissions, and create more sustainable places for people to learn, work, and live. By unlocking capital for sustainable retrofits, we're helping to cut emissions, lower energy costs, and create good jobs—while building healthier, more resilient communities across the country. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada Creative Energy is proud to be a part of this landmark project at Thompson Rivers University, and to partner with the Canada Infrastructure Bank, as we seek to create community energy systems today, for a better world tomorrow. This partnership with the Canada Infrastructure Bank marks a major step forward in our mission to decarbonize buildings at scale. By unlocking access to long-term capital, we are accelerating the transition to affordable clean, efficient community energy systems – starting here in British Columbia through our collaboration with Thompson Rivers University and BC Hydro. Kieran McConnell, President and Chief Operating Officer, Creative Energy Sustainability is a core value at Thompson Rivers University, and our Low-Carbon District Energy System (LCDES) project marks our most ambitious effort yet to minimize our climate footprint. With the invaluable support of CIB financing, institutions like TRU can undertake crucial initiatives fostering a greener future. The LCDES will function as an educational cornerstone, serving as a 'living lab' within the Sustainability Powerhouse to highlight cutting-edge energy technologies. This initiative not only promises a more sustainable campus but also invigorates sustainability initiatives that actively involve and benefit students.
Cision Canada
20-06-2025
- Business
- Cision Canada
CIB closes $50 million loan with Dream Industrial REIT to fund large-scale commercial building upgrades Français
Disponible en français Dream Industrial to retrofit 34 industrial buildings in Alberta, Ontario and Quebec Building upgrades include: solar photovoltaics; mechanical, electrical and air-handling systems; and building envelopes Expected to create approximately 630 jobs and generate 14,500 MWh of clean electricity from solar panels TORONTO, June 20, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) and Dream Industrial Real Estate Investment Trust (TSX: have finalized a $50 million loan to fund commercial property retrofits related to energy efficiency savings and emissions reductions at 34 warehouses in Alberta, Ontario and Quebec. With buildings currently accounting for 18% of Canada's total emissions, investments from the CIB help to prioritize and accelerate building upgrades to help meet Canada's energy use goals. The CIB's investment will support upgrades to mid- and large-bay warehouses used for urban logistics, light industrial and distribution. Building upgrades include: mechanical and electrical systems, renewable energy generation, heating, ventilation and air conditioning systems, fuel switching, energy management technology, building envelope and electric vehicle charging. The projects are expected to create approximately 630 jobs and generate 14,500 MWh of clean electricity from installed renewable power generation such as solar panels. Dream Industrial REIT is part of the Dream Group of Companies, which was the first real estate group in Canada to receive a loan in 2022 as part of the CIB's Building Retrofits Initiative. Endorsements: Dream Industrial's new initiative is proof that our building retrofits program is succeeding in helping Canada's building owners to upgrade their properties and reduce energy use, at scale. By working with leaders in the Canadian real estate sector, we are supporting forward thinking companies interested in improving the communities within which they own properties through more efficient use of energy resources. Ehre n Cory, CEO, Canada Infrastructure Bank The CIB's partnership with Dream Industrial will cut emissions and lower energy costs of commercial buildings across Alberta, Ontario and Quebec. As a nation of builders, our government is making the needed investments in infrastructure that strengthens businesses and creates more jobs, so that we can build the strongest economy in the G7. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for the Pacific Economic Development Canada "We are excited to partner with the CIB to complete large-scale energy efficiency improvements across our Canadian industrial portfolio. Investing in high-impact retrofits, including solar installations, aligns with Dream Industrial's strategy to invest in opportunities that produce attractive returns while improving the sustainability and resiliency of our assets, and help reduce emissions to accelerate the transition to a low-carbon built environment." Alexander Sannikov, President & Chief Executive Officer, Dream Industrial REIT
