Supporting the purchase of 3,500 zero-emission school buses and associated charging infrastructure
Our investment of $400 million enables Quebec school bus operators to purchase zero-emission school buses (ZEBs).
Fast facts
ZEBs are quieter and are expected to have lower maintenance and fueling costs compared to equivalent GHG-emitting vehicles. By replacing 3,500 diesel school buses, our investment will help reduce greenhouse gas emissions by 59,000 tonnes annually. The buses contribute to the Province’s shift toward more sustainable transportation, lowering its carbon footprint while providing a high-quality transit service for students.
Our investment will work in conjunction with funding provided by the Ministry of Transport of Quebec.
We will be repaid from energy and maintenance cost savings from the ZEB as measured against costs of an equivalent GHG-emitting bus.
Benefits of CIB Involvement
Our ZEB Initiative assists transit agencies and school bus 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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