Canada Infrastructure Bank and City of Ottawa achieve financial close on $380 million investment toward OC Transpo zero-emission buses
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Thursday, August 11, 2022
OTTAWA, ON, Aug. 11, 2022 /CNW/ - The Canada Infrastructure Bank (CIB) has achieved financial close on an investment of up to $380 million with the City of Ottawa (City) to help finance up to an additional 446 OC Transpo zero-emission buses (ZEBs) through 2027.
Key Points:
- OTTAWA, ON, Aug. 11, 2022 /CNW/ - The Canada Infrastructure Bank (CIB) has achieved financial close on an investment of up to $380 million with the City of Ottawa (City) to help finance up to an additional 446 OC Transpo zero-emission buses (ZEBs) through 2027.
- With the gradual phase-out of diesel buses as they reach the end of their life cycle, OC Transpo could achieve a fully zero-emission bus fleet by 2036.
- Energy supply and charging infrastructure will be supplied by Hydro Ottawa through a separate agreement with the City.
- I am delighted our investment to support the City of Ottawa's transition to a fleet of 446 zero-emission buses has achieved financial close.