Lulu Island District Energy

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Lulu Island Energy Company is a municipal corporation wholly owned by the City of Richmond, established to implement and operate district energy utility systems in the City of Richmond, British Columbia. The energy system will use zero-carbon sewer heat recovery technology to extract heat from the local sewer force main once the system is fully built out.The City of Richmond’s official plan calls for higher density and mixed-use buildings in future residential and commercial development. The proposed expansion will provide the city with low-carbon energy sources on an expedited basis that would provide heating and cooling to buildings in the region.Benefits of CIB involvementOur participation will provide our partners with flexible financing terms to accommodate long-term capital drawdown and long-term duration of the project. Lower financing rates contributes to both the financial and environmental sustainability of the district energy system. The CIB seeks to invest up to $5 billion into clean energy projects which are in the public interest and support Canadian sustainable economic growth.

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