Canada Infrastructure Bank Closes $100 Million Financing With Ameresco for Energy Efficiency and Renewable Energy Projects in Canada
On March 31, 2023, Canada Infrastructure Bank closed a $100 million credit facility with Ameresco BRI Carbon Reduction LP (a wholly owned subsidiary of Ameresco, Inc.).
Ameresco provides energy efficiency, renewable energy and decarbonization retrofit solutions for commercial clients. The term credit facility will provide financing for project costs related to the design, engineering, implementation and commissioning of energy efficiency and renewable energy projects. These projects will reduce energy consumption and carbon emissions at sites across Canada. The legal documentation incorporates complex requirements for Greenhouse Gas (GHG) baseline measurement, GHG reduction forecasting and reporting of actual GHG reduction data. The interest rate for the financing is based on an intricate formula tied to the forecasted GHG emissions reduction for each project.
Aird & Berlis represented Ameresco with a team led by Jill Fraser and including Michelle Chen.
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With a calm demeanor and extensive experience in banking law, Jill remains poised in even the most testing circumstances.
