TORONTO â The Canada Infrastructure Bank (CIB) completed financial close and construction began earlier this month on the world’s largest wastewater raw energy transfer project, a $ 42.9 million construction located at the Toronto Western Hospital, part of the University Health Network (UHN).
Renewable energy company Noventa Energy Partners has worked with UHN and Enbridge Gas to develop the retrofit project that will provide about 90 percent of the hospital’s heating and cooling needs, a statement said.
CIB will invest up to $ 19.3 million in subordinated debt and Vancity Community Investment Bank will invest $ 15.3 million in senior debt under the terms of the agreement.
Noventa and Enbridge Gas are funding partners, while UHN will provide a capital contribution and the Government of Canada provides a grant under Environment and Climate Change Canada’s Low Carbon Economy Fund.
The retrofit project will use the Huber ThermWin and Noventa IP system to transfer thermal energy to and from wastewater flowing through the central Toronto interceptor sewer to provide low-carbon heating and cooling to the hospital, the statement said, adding the hospital’s natural gas use and water consumption will be significantly reduced. The hospital is expected to see a cumulative reduction in greenhouse gas emissions of over 250,000 tonnes over the next 30 years.
This is the first project under the CIB’s Public Building Renovation Initiative, which aims to achieve significant energy savings through infrastructure owned and / or managed by the public sector.
âWe are proud to partner with UHN and private sector partners on our first investment in public building renovations,â Ehren Cory, CEO of CIB, said in a statement. âThe project will significantly reduce GHG emissions at the hospital while helping UHN meet its climate change commitments. We look forward to working with more asset owners in the public and private sectors to invest in new energy retrofit projects that consider long-term sustainability and climate change action.