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$175 million in federal funding for City of Richmond's district energy utility expansion

By District Energy posted 10-12-2022 07:29




Plans to significantly expand the district energy utility systems within Richmond City Centre have received the financial support of the federal government.

Canada Infrastructure Bank, the federal crown corporation that provides financing for infrastructure projects, recently announced it will provide $175 million in financing to Lulu Island Energy Company (LIEC), which is a private company wholly owned by the City of Richmond to oversee its district energy utility systems.

District energy systems like LIEC provide more efficient ways of heating and cooling buildings, as opposed to buildings and apartments having their independent, inefficient systems. Along with the efficiencies of a large, centralized, utility-based system, the heating and cooling needs of buildings carry lower operating costs and lower emissions from low-carbon energy production, such as the use of geoexchange systems or recapturing heat from sewers.

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