KAMLOOPS, B.C. — The Canada Infrastructure Bank (CIB) and Creative Energy have reached financial close on a $50 million loan to support deep decarbonization projects in B.C. and Ontario.
The partnership will enable Creative Energy to work with clients to reduce more than 90 per cent of their emissions through options such as switching from natural gas heating to electricity-based district energy systems.
The first building retrofit project will be at Thompson Rivers University, upgrading 12 buildings and providing heating capacity to one new building across its Kamloops, B.C. 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,” explains a release.
Creative Energy is the owner and operator of one of North America’s largest district energy systems.
With buildings accounting for around 18 per cent of Canada’s total emissions, the CIB’s retrofit investments aim to enhance building sustainability while reducing energy consumption and associated capital costs, the release adds.
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