Statement - Expanded District Energy System to Reduce Greenhouse Gas Emissions in Western Canada
OTTAWA, Aug. 1, 2019 /CNW/ - The Honourable François-Philippe Champagne, Canada's Minister of Infrastructure and Communities, made the following statement on today's announcement by the Canada Infrastructure Bank, a Crown corporation that works with governments and the private sector to transform the way infrastructure is planned, funded and delivered.
"We welcome the collaboration between the Canada Infrastructure Bank (CIB) and Lulu Island Energy Company to advance a district energy project in Richmond, British Columbia.
The district energy project will expand the City of Richmond's current district energy system by more than 16 times, supporting growth in the region by producing renewable energy and reducing greenhouse gas emissions.
This collaboration reflects the Government of Canada's priority to support evidence-based decision-making and to invest in green public infrastructure.
Through its advisory function, the CIB is supporting the development of this project by evaluating its financial structures, agreements and bankability. This is in line with the CIB's mandate to provide advice to governments in assessing the suitability of potentials projects, including conducting due diligence and financial feasibility."
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