Project Name: Autobus Séguin Zero-Emission School Buses
Partner: Autobus Séguin
Sector: Public Transit
Participation: $15 million (financial close)
Description: The CIB and Autobus Séguin have completed an agreement for the CIB to support the purchase of zero-emission school buses (ZEBs) with an investment of up to $15 million. This financing when combined with subsidies offered by the Government of Québec allows Autobus Séguin to purchase up to 131 ZEBs, renewing more than 40% of its school bus fleet over the next five years.
ZEBs are quieter and are expected to have lower maintenance and fueling costs compared to equivalent GHG-emitting vehicles. More than 2,146 tonnes of greenhouse gas emissions will be reduced annually, which is the equivalent of removing 658 passenger vehicles from the road every year.
The buses contribute to the Québec’s objective of electrifying 65% of its school bus fleet by 2030 while providing a high-quality transit service for students.
The CIB will be repaid from cost savings from the ZEBs as measured against costs of an equivalent GHG-emitting bus. The charging infrastructure will be provided through an agreement between Autobus Séguin and InnovHQ, a Hydro-Québec subsidiary.
Benefits of the CIB Involvement
The CIB’s zero-emission bus initiative assists transit agencies and school boards transition their fleets to modern, environmentally friendly vehicles. The CIB‘s financing, in the form of a direct loan, can cover the higher upfront capital cost of ZEBs compared to diesel buses. Partners can use flexible financing options to modernize their bus fleets on an accelerated basis.
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