Markham District Energy

Sector(s)
Clean Power
Location(s)
Markham, Ontario
Participation
$135 million
Partner(s)
Markham District Energy Inc., CIBC

New clean energy projects in the City of Markham

The investment will support Markham District Energy (MDE) with expanding its service area, ensuring more buildings can connect to its low-carbon district energy systems. By alleviating the need for separate heating and cooling systems, district energy effectively reduces building greenhouse gas emissions.

Fast facts

Reduce 33,700 tonnes of greenhouse gas emissions annually
Create a long-term reliable, efficient and cost-effective energy network
Reduce facility owners’ operating costs

We are investing $135 million to expedite the large-scale expansion of clean energy projects in the City of Markham. The loan allows the company to expand its district energy system and support future development in Markham. The district energy systems will provide the City with low-carbon energy sources which will provide heating and cooling to connected buildings in the municipality. The expansion will result in the reduction of 33,700 tonnes of greenhouse gas emissions annually.

Benefits of CIB Involvement

The CIB worked with Markham District Energy to attract a $135 million co-investment from CIBC. With the support of both CIB and CIBC, MDE can deliver on its 10-year growth plan, expand its urban district energy offerings and shape a greener community.

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Markham District Energy

This strategic investment from the CIB is an important catalyst to support Markham District Energy’s expansion plans and accelerate specific projects to reduce our carbon footprint now and advance our path towards net-zero emissions by 2050. We are very pleased that CIBC responded to our call for a funding partner which sets the stage for us to deliver efficient, reliable and low carbon district energy to all new customers in our growing urban centres.

Bruce Ander, President and CEO
CIBC

CIBC is proud to partner with the Canada Infrastructure Bank and Markham District Energy, helping expand clean energy projects in the City of Markham while working together to help achieve our sustainability ambitions.

Lisa Raitt, Vice-Chair of Global Investment Banking
Minister of International Trade, Export Promotion, Small Business and Economic Development

Our government is growing a sustainable economy, protecting the environment, and creating jobs at the same time. With this investment from the Canada Infrastructure Bank, the people of Markham will benefit from clean, reliable energy while contributing to reaching our net-zero emissions targets.

The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, on behalf of the Honourable Dominic LeBlanc, Minister of Intergovernmental Affairs, Infrastructure and Communities
Mayor of Markham

The City of Markham is a recognized sustainability leader in Canada’s municipal sector continually delivering many innovative low carbon initiatives. Our commitment to district energy in our growing urban centres is a key strategic element to achieving our net-zero emissions objective by 2050 while delivering economic benefits to our City. Our award-winning district energy utility will be able to achieve its growth and low carbon targets supported by this important investment from the Canada Infrastructure Bank and the CIBC. This is a great example of the municipal sector working with public and private sector partners to deliver environmental and economic benefits to Canadians.

Frank Scarpitti, Mayor of Markham