Canada Infrastructure Bank, Lulu Island Energy Company and Corix achieve financial close on $175 million district energy investment

Cision

The Canada Infrastructure Bank (CIB), Lulu Island Energy Company (LIEC) and Corix Infrastructure Inc. (Corix) have achieved financial close on a district energy expansion project in the City of Richmond, British Columbia.

Under the agreement, the CIB will provide $175 million in financing for the LIEC City Centre District Energy Utility project. It will enable expansion to more than 170 new residential and mixed-use commercial development sites in the area by 2050, using low-carbon heat recovered from the Gilbert Road regional sewer system. …

The benefits of this expansion will be realized not only by the residents and businesses connected to the utility, but the entire community as it will reduce greenhouse gas emissions by an estimated one million tonnes when completed. District energy is a key pillar for achieving Richmond’s short- and long-term community greenhouse gas emission reduction goals as well as the delivery of efficient, sustainable and environmentally friendly energy for the community.

Mayor Malcolm Brodie, City of Richmond

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