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Ontario Construction News staff writer
Canada Infrastructure Bank (CIB) and Enwave Energy Corporation (Enwave) have announced a long-term agreement worth $1.4 billion to accelerate clean energy projects in the Cities of Toronto and Mississauga.
The CIB is committing $600 million, enabling Enwave to accelerate and scale the build-out of its district energy systems.
“District energy projects align with our priority to invest in clean energy infrastructure which reduce greenhouse gas emissions,” said Ehren Cory, CEO, Canada Infrastructure Bank.
“As world leaders focus on global climate action, our innovative investment is a tremendous opportunity to make urban communities greener and more sustainable. The district energy projects will benefit those who live and work in Toronto and Mississauga for generations to come.”
District energy projects help decarbonize connected buildings by connecting buildings to share common heating and cooling equipment and reducing typical electricity consumption by up to 80 percent and carbon emissions by up to 60 percent. Sharing equipment also frees up more space for leasing.
Enwave produced a video explaining the benefit and claiming that “leading building owners, communities and campuses are choosing something smarter.”
Think of it as “virtual energy” that creates sustainability at scale by taking advantage of other forms of energy including upcycling waste energy, deep lake cooling, biomass and geothermal systems.
The investment creates a unique opportunity for Enwave to deploy sustainable technologies, such as wastewater heat recovery and Geoexchange, in delivering community-scale low-carbon energy for new networks in Toronto and Mississauga.
Enwave will also expand and enhance the efficiency of its existing low carbon hot water district in Toronto, optimizing the base network. The projects will leverage Enwave’s expertise and strengths in design, construction, operations, and maintenance of district energy networks.
“This investment from the CIB will be the catalyst for accelerating impactful low carbon energy projects. In collaboration with the City of Toronto and City of Mississauga, Enwave is committed to deploying advanced and innovative low carbon energy solutions at scale enabling a leap forward in the energy transition,” said Carlyle Coutinho, CEO, Enwave Energy Corporation.
The City of Mississauga’s Climate Change Action Plan notes district energy as a key opportunity in its goal to become a low carbon and resilient community. Enwave’s projects are expected to help reduce greenhouse gas emissions by more than 67,000 tonnes every year.
“Tackling climate change and reaching net-zero by 2050 requires strong action, including making our buildings more energy efficient,” said Dominic LeBlanc, minister of intergovernmental affairs, infrastructure and communities.
“These projects will reduce GHG emissions by more than 67,000 tonnes each year while creating good jobs, reducing greenhouse gas emissions, and showing the world how Canada is a leader in the green economy.”