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The Canada Infrastructure Bank (CIB), through a partnership with Enbridge Sustain and Blackstone Energy Services, is making a $200 million loan to retrofit large buildings to reduce greenhouse gas emissions by at least 30% in Ontario, according to an Oct. 24 press release.
The partnership will provide Enbridge and Blackstone’s customers including universities, hospitals and multi- residential buildings with decarbonization solutions.
New technologies and retrofit solutions convert heating and cooling systems to geothermal, solar generation, electric vehicle infrastructure, heat recovery, smart building controls and backup power generation.
According to the release, CIB and Enbridge expect the value of the retrofit program to be up to approximately $300 million.
“CIB's loan towards Enbridge Sustain's projects with Blackstone to retrofit large buildings will have a major impact on reducing greenhouse gas emissions,” CIB’s CEO Ehren Cory stated. “Deep retrofits, particularly in post-secondary education and hospital buildings, are key to reducing energy use, lowering heating and cooling costs and supporting the environmental goals of building owners.”
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