TORONTO—The Canada Infrastructure Bank (CIB) reached financial close and construction activities began earlier this month on the world’s largest raw wastewater energy transfer project, a $42.9 million build located at Toronto Western Hospital, part of the University Health Network (UHN).
Renewable energy company Noventa Energy Partners worked with UHN and Enbridge Gas to develop the retrofit project which will provide about 90 per cent of the hospital’s heating and cooling requirements, indicates a release.
The CIB will invest up to $19.3 million in subordinated debt and Vancity Community Investment Bank will invest $15.3 million in senior debt under the terms of the agreement.
Noventa and Enbridge Gas are equity partners, while the UHN will make a capital contribution and the Government of Canada is providing a grant under the Environment and Climate Change Canada – Low Carbon Economy Fund.
The retrofit project will use the Huber ThermWin System and Noventa IP to transfer thermal energy to and from wastewater flowing in the mid-Toronto interceptor sewer to provide low-carbon heating and cooling to the hospital, states the release, adding the hospital’s natural gas use and water consumption will be significantly reduced as a result. The hospital is expected see a cumulative reduction in greenhouse gas emissions of more than 250,000 tonnes over the next 30 years.
This is the first project under the CIB’s Public Building Retrofits Initiative, which seeks to achieve significant energy savings from infrastructure owned and/or managed by the public sector.
“We are proud to partner with UHN and private-sector partners on our first public building retrofit investment,” said Ehren Cory, CEO of the CIB, in a statement. “The project will dramatically lower GHG emissions at the hospital while helping UHN meet its climate change commitments. We look forward to working with more public sector asset owners and the private sector to invest in new energy retrofit projects which consider long-term sustainability and action on climate change.”