Infrastructure Bank making $200M loan to Enbridge Sustain
October 25, 2023 | By HPAC Magazine
Money to be used for retrofits of large buildings in Ontario for the conversion of heating/cooling systems to geothermal, solar generation, heat recovery, smart building controls and more.
The Canada Infrastructure Bank (CIB) is making a $200-million loan available through a partnership with Enbridge Sustain to enable deep retrofits to large buildings in Ontario.
Enbridge Sustain, an unregulated division of Enbridge Gas that provides energy-as-a-service solutions to homeowners, developers and commercial customers, intends to leverage the CIB loan to execute deep energy retrofit projects with existing institutional buildings, namely hospitals, universities and colleges, as well as multi-unit residential buildings.
Projects will be developed and executed through a partnership between Enbridge Sustain and Blackstone Energy Services, whereby the companies will offer retrofit solutions such as the conversion of heating/cooling systems to geothermal, solar generation, electric vehicle infrastructure, heat recovery, smart building controls and backup power generation.
The retrofits will replace existing lower-efficiency equipment with new technologies aimed at driving long-term energy savings which are used to repay the initial capital costs.