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CAPREIT to conduct energy retrofits in 60 multi-residential buildings
CIB $70 million loan supports deep building retrofits in Canadian apartments
Fast facts
Our $70 million investment towards deep energy retrofits will improve energy efficiency and lower the carbon pollution of 14,000 apartments in 60 multi-residential buildings in Ontario, Quebec, Alberta, Nova Scotia and Prince Edward Island.
The CIB low-cost loan helps close the higher upfront cost associated with deep energy retrofit projects that are often not economically viable with traditional sources of capital.
The retrofits include energy recovery among various mechanical systems, installation of high-efficiency electric heat pumps, as well as building automation systems, lighting retrofits and sub-metering.
Benefits of CIB involvement
Our Building Retrofits Initiative helps to address one of Canada’s largest sources of greenhouse gas emissions. Buildings account for 18 per cent of Canada’s GHGs, so retrofitting these assets is critical to meeting the country’s climate change goals.