The Canada Infrastructure Bank is helping to accelerate the reduction of greenhouse gas emissions in Ontario by making a $200-million loan available through a partnership with Enbridge Sustain to enable deep retrofits of large buildings.

Enbridge Sustain intends to leverage this capital to execute deep energy retrofit projects in existing buildings. CIB and Enbridge Sustain expect the total retrofit program value to be up to approximately $300 million.

Projects will be developed and executed through a partnership between Enbridge Sustain and Blackstone Energy Services.

The partnership will provide Enbridge Sustain and Blackstone customers, including but not limited to colleges, universities, multi-residential buildings and hospitals, with a suite of decarbonization solutions from design through construction, operation, and maintenance.

Blackstone and Enbridge Sustain 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.

The Enbridge Sustain agreement has pushed the CIB above $1 billion in financing towards sustainable building retrofits. Buildings are one of the largest sources of GHGs in Canada, accounting for around 18 per cent of total emissions.

The proposed transactions described in this announcement are subject to the completion of definitive agreements among CIB, Enbridge Sustain, and Blackstone.

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