The CIB Commits $50M Rowards Creative Energy Retrofit Projects
July 23, 2025
The Canada Infrastructure Bank (CIB) and Creative Energy have reached financial close on a $50 million loan to support the deep decarbonization of buildings through connection to district energy systems.
The partnership will enable Creative Energy’s clients in British Columbia and Ontario to reduce more than 90% of their emissions through options such as switching from natural gas heating to efficient electricity-based district energy systems.
The first building retrofit project under the partnership will be at Thompson Rivers University, upgrading 12 buildings and providing heating capacity to one new building across its Kamloops, British Columbia campus. The campus will transition 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%, creating a more sustainable campus for students and moving the university very close to its 2030 zero carbon goal.
The CIB’s agreement allows Creative Energy to advance and implement retrofit projects in the near term, quickly benefitting building owners and tenants. This partnership provides a long-term, flexible investment structure to incentivize building owners to upgrade their assets.
Creative Energy is the owner and operator of one of North America’s largest district energy systems.
With buildings accounting for around 18% of Canada’s total emissions, the CIB’s retrofit investments aim to enhance building sustainability while reducing energy consumption and associated capital costs.
