The CIB Public Retrofits Initiative (PRI) provides financing for energy retrofits projects on infrastructure portfolios owned and/or managed by the public sector. The CIB will work with the public sector to review their asset portfolios from a holistic perspective and develop bundles of energy retrofit projects to support the achievement of ambitious portfolio-scale GHG reduction goals without using public funds for upfront investment or ongoing subsidies, where possible.
Grant
Funding for:
- Retrofit-Ready Operational Upgrades: renewal of upgraded systems while it awaits appropriate phase of service life to be further upgraded.
- Minimum Retrofit: this type of retrofit includes all facility changes to achieve a minimum threshold of energy or GHG-reduction performance.
- Enhanced Retrofit: prepares the facility to fully decarbonize heating in the short/medium term.
- Zero Carbon Retrofit: full fuel switching to low-or zero-carbon sources of energy.
How to apply
Rolling intake for all levels of government, Indigenous communities, schools, hospitals, and universities. Apply for:
- Large Bundled Projects (>$40 Million): CIB’s financing is between 40 – 60%; Financing may increase (up to 70%) to enable deeper retrofit and fuel switichng projects.
- Smaller or One-off Projects ($25 Million to $40 Million): CIB will provide standardized term sheets (debt/equity, low cost, flexible terms), low-cost participation will reduce the project cost of capital, participation provides a buffer to senior debt and likely removes the need for guarantees.