Canada Infrastructure Bank Kicks in $56M for U of T Building Retrofits
July 20, 2022 | By HPAC Magazine
Among the projects being financed will be switching one of four gas boilers to electric in the central heating plant.
The Canada Infrastructure Bank (CIB) has signed an agreement with the University of Toronto (U of T) that has the CIB committing up to $56 million toward deep energy retrofit projects.
Among the projects being financed will be switching one of four gas boilers to electric and installing a supplemental steam turbine in the central heating plant. Other projects will include deep energy retrofits of six academic buildings, establishing a local low-carbon energy source (maybe solar panels) which will supply renewable energy, and implementing green-technology solutions such as carbon capture, energy storage and waste-to-fuel.
@cib_en is investing up to $56M in deep energy retrofits @UofT St. George Campus. Our financing will help the campus become climate positive by 2050 + reduce GHGs by 50% or 45k tonnes CO₂ /yr. Read: https://t.co/YZbog04dYC
— Canada Infrastructure Bank (CIB) (@cib_en) July 19, 2022
The investment falls under the CIB’s Building Retrofits Initiative, which drives energy savings from infrastructure owned and/or managed by the public sector.
The financing will help the university’s downtown Toronto campus become climate positive by 2050 and reduce greenhouse gas emissions by approximately 50% or 45,000 tonnes carbon dioxide equivalent annually.