Accelerating New Investment in Zero-Emission Vehicle Infrastructure Across Canada
Nearly one quarter of Canada’s GHG emissions are produced by the transportation sector. Transitioning from fossil fuel powered vehicles to electric or hydrogen zero-emission vehicles (ZEVs) is an important opportunity to reduce emissions. The lack of public charging and hydrogen refuelling infrastructure is a barrier to ZEV adoption.
The Charging and Hydrogen Refuelling Infrastructure Initiative (CHRI) aims to reduce transportation sector greenhouse gas emissions by accelerating the private sector’s rollout of large-scale ZEV chargers and hydrogen refuelling stations, helping to spur the market for private investment.
Through this initiative, the CIB has dedicated a minimum of $500 million to support the federal government’s goals as part of Canada’s 2030 Emissions Reduction Plan.
Benefits of CIB involvement
We provide financing to the private sector to share in charging and refuelling infrastructure use risk by aligning repayment with use levels. If network use does not reach agreed levels, the required repayments will be proportionally lower. Conversely, in circumstances where use levels exceed expectations, the CIB’s return will increase proportionally. This financing structure addresses the uncertainty of ZEV adoption rates faced by developers and investors, so they can confidently invest in charging and refuelling infrastructure.
To be considered, projects must:
- Involve public fast charging or hydrogen refuelling infrastructure located in Canada
- Be delivered by the private sector
- Be revenue generating and in the public interest
- Consist of large-scale deployment with total eligible project costs of at least $20 million
- Eligible project costs for investments should not exceed 50% to 80% of public funding, depending on the timing and location of the project
Financing is available based on a qualifying network implementation plan. The CIB is also coordinating with Natural Resources Canada under their existing Zero-Emission Vehicle Infrastructure Program to maximize the effectiveness of the federal government’s contribution to charging infrastructure. Projects supported by the CIB will remain eligible for NRCan funding to the extent required for the project to remain commercially viable.