OTTAWA — The Canada Infrastructure Bank (CIB) and Ameresco Canada have announced financial close on an agreement which sees the CIB committing to fund up to $100 million towards energy-efficient building-upgrade projects.
Ameresco, based in Massachusetts, is a cleantech integrator and project developer, owner and operator and it will identify and manage the upgrade projects, stated a release.
Examples of retrofits cited include LED lighting conversion, high efficiency electrified HVAC and onsite solar-plus battery storage.
The spending is part of the CIB’s Building Retrofits program targeting projects for existing buildings. The CIB has allotted $1 billion towards building retrofits.
“We are thrilled that our agreement with the CIB will increase the availability of low-cost committed capital for Ameresco’s project work in Canada,” stated Bob McCullough, president of Ameresco Canada, in a statement.