$75M initiative to target Alta. and Sask. commercial energy upgrades

by arslan_ahmed | October 11, 2023 3:09 pm

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Commercial building owners in Alberta and Saskatchewan will be able to complete energy efficiency upgrades without any upfront capital, with the help of a new $75 million funding initiative led by partners Efficiency Capital, Canada’s first energy-as-a-service company, and CLEAResult, the energy-efficient solutions provider.

The investment is paid back over time from the savings generated, resulting in increased building values and positive cash flows from day one. In addition to access to preferred project capital, businesses will also enjoy the support of an expert project team to help manage the project’s implementation.

Qualifying projects will undergo a diverse range of energy retrofits, including—but not limited to—building envelope improvements, on-site renewable energy generation, and fuel switching for retail spaces, warehouses, accommodation, and food service facilities.

Efficiency Capital, which has a significant track record of deploying capital for energy upgrade projects across the country, will bring in the required funding and project management capability, while CLEAResult will leverage its experience and reputation as a leading program execution partner to identify, plan, leverage funding programs, and support the execution of these projects.

“Energy efficiency and economic stimulus go hand in hand,” says Chandra Ramadurai, CEO of Efficiency Capital. “We’re thrilled to provide capital and turn-key execution for these cash flow-positive projects that Alberta and Saskatchewan building owners can use as an opportunity to lower energy costs in their facilities while creating jobs and environmental benefits that support the whole community.”

Applications to the program’s first cohort will be accepted until October 31, 2023. Those interested in applying or further information can visit: https://www.clearesult.com/canada/programs/energy-efficiency-retrofit-program[2].

Source URL: https://www.constructioncanada.net/75m-initiative-to-target-alta-and-sask-commercial-energy-upgrades/

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