One of the largest conversions of public transit vehicles in Canada
The City of Ottawa, via OC Transpo, will be procuring up to 446 zero-emission buses.
Fast facts
The electrification of vehicles is key to the City of Ottawa’s goal of reducing greenhouse gas (GHG) emissions by 100% by 2040 and demonstrates the City’s commitment to lead by example.
Zero-Emission Buses (ZEBs) are quieter and are expected to have lower maintenance and fuelling costs compared to equivalent GHG-emitting vehicles. The buses contribute to Ottawa’s shift toward more sustainable transportation, lowering its carbon footprint while providing a high-quality transit service for users.
Our investment will help finance a portion of the ZEB purchase price. Repayment will come from cost savings from the ZEB as measured against costs of an equivalent GHG-emitting bus. The investment supports Canada’s economy by creating new manufacturing opportunities and spin off economic benefits across the supply chain.
Benefits of CIB involvement
Our Zero-Emission Buses Initiative assists transit agencies and school bus operators in transitioning their fleets to modern, environmentally friendly vehicles. Our financing, in the form of direct loans and innovative aggregators, can cover the higher upfront capital cost of ZEBs versus diesel buses, with repayment coming only from actual savings generating by operating ZEBs instead of diesel buses. We enable partners to take advantage of flexible financing options to modernize their bus fleets on an accelerated basis.
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