Energy Manager

Ameresco-led energy retrofits supported by $100 million from CIB

May 31, 2023  By  Anthony Capkun

May 31, 2023 – The Canada Infrastructure Bank (CIB) and Ameresco Canada Inc. have reached a deal under which CIB will commit to fund up to $100 million toward building energy efficiency upgrades.

“Through our Building Retrofit Initiative, we’re investing in decarbonizing buildings across Canada […],” said Ehren Cory, CEO, CIB. “Our $100-million funding commitment and its long-term impact will result in resilient, energy-efficient Canadian infrastructure […].”

Ameresco will identify and manage the upgrade projects. The types of retrofits could include LED lighting conversion, high-efficiency electrified HVAC, onsite solar plus battery storage, and other GHG-reducing technologies.

When complete, CIB’s support is expected to contribute to annual GHG emission reductions by 33,000 tonnes.

CIB’s Building Retrofits Initiative provides long-term investments for building retrofits to modernize and improve the energy efficiency of existing buildings.

“We are thrilled that our agreement with the CIB will increase the availability of low-cost committed capital for Ameresco’s project work in Canada,” said Bob McCullough, president, Ameresco Canada. “We are grateful that the Canada Infrastructure Bank shares our vision for a more sustainable future for our customers through innovative financing solutions such as energy-as-a-service.”

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