Enwave District Energy

Clean Power
Toronto and Mississauga (Ontario)
$600 million (financial close)
Enwave Energy Corporation

Creating an opportunity to deliver large scale clean power projects

Enwave is expanding and enhancing the efficiency of its existing district energy system in central Toronto and developing new services in western and eastern Toronto and in Mississauga.

Fast facts

Reduce connected buildings’ electricity consumption by up to 80% and carbon emissions by up to 60%
Reduce greenhouse gas emission by 67,780 tonnes annually
Reduce facility owners’ operating costs

District energy expansion into new areas will allow connected buildings the opportunity to reduce their electricity consumption by up to 80 per cent and carbon emissions by up to 60 per cent. The district energy systems will be an efficient, reliable source of heating and cooling and reduce facility owners’ operating costs. It is expected 67,780 tonnes greenhouse gas emissions will be reduced annually.

Enwave currently provides district energy services to health care facilities, government and university buildings and commercial and residential towers, within the Toronto’s downtown.

Benefits of CIB Involvement

The investment allows for the build out of the district energy systems on a larger scale and more expedited basis. Innovative financing terms consider user adoption of the system. The project also combines both public and institutional investment.

Learn more

Heat exchange equipment at an Enwave site in downtown Toronto
Heat exchange equipment at an Enwave site in downtown Toronto
An Enwave facility on the corner of Simcoe Street in Toronto
Ontario Teachers’ Pension Plan

We are pleased to support this transformational agreement between the CIB and Enwave that will help build out district energy projects to bring efficient and low-carbon energy to new communities in Toronto and Mississauga.

Ziad Hindo, Chief Investment Officer
Enwave Energy Corporation

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.

Carlyle Coutinho, CEO