(Under development)
Enabling deep decarbonization and reducing energy use
Creative Energy’s integrated retrofits model helps clients cut emissions, reduce energy use.
Fast facts
The CIB is investing $50 million in Creative Energy to help their clients in British Columbia and Ontario reduce their emissions by switching from natural gas heating to efficient electricity-based district energy systems.
Creative Energy, which owns and operates one of North America’s largest district energy networks, will lead the retrofit projects. These upgrades are expected to reduce emissions by more than 90% through high-efficiency building improvements.
The first project at Thompson Rivers University in Kamloops will retrofit 12 existing buildings and provide low carbon heating to the new Indigenous Education Centre.
Upgrades at the campus include transitioning from decentralized natural gas heating to a high-efficiency electrified heat source using a centralized air-source and water-source heat pump strategy.
The technology will reduce emissions from the heating systems in the connected building by 95 per cent, moving the university closer to its 2030 zero carbon goal.
Benefits of the CIB’s involvement
Our Building Retrofits Initiative enables large private sector real estate owners and aggregators to decarbonize heating energy and improve the energy efficiency of existing buildings.
Our investment finances upfront capital costs of the retrofits, which will be repaid through cost of service delivered, which are based on the client’s total avoided costs for fuel and operations and maintenance. Once the repayment is complete, the building owners that benefited from the initiative will benefit from 100% of the savings achieved through the retrofits.
Learn more
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