The Canada Infrastructure Bank and the City of Brampton have concluded a deal which would see the CIB loan up to $400 million, supporting Brampton Transit’s purchase of up to 450 zero-emission buses (ZEBs) by 2027.
The CIB’s investment will contribute towards the upfront capital cost of the ZEBs and related charging infrastructure. This is the CIB’s third ZEB investment commitment with a municipality and supports one of the largest conversions of public transit vehicles in Canada to date.
The electrification of transit vehicles is a critical milestone in the City’s journey to reducing GHGs generated in Brampton by 80 per cent by 2050. Once the 450 buses are deployed, ZEBs are estimated to save approximately 57,000 tonnes of greenhouse gases per year.
The CIB and City of Brampton expect to reach financial close by late 2021.
CIB President Ehren Cory told the Canadian Press the bank is rethinking its focus on mega projects like LRT in favour of projects like the Brampton conversion.
“Just to be clear, though, we’re quite flexible. And if that ends up being $2 billion for (zero-emission bus fleets) and $3 billion for other things like light rail, that will still be just fine,” he said in an interview.
“Our goal is to deploy our capital in the transit space. The outcomes we care about are transit ridership and GHG reduction, and it’s up to the owners of those the fleet owners, municipalities, to make the trade-offs Our partnership will help Brampton become a Green City and provide cleaner public transportation for generations to come. This is a tremendous opportunity to make a difference in modernizing municipal infrastructure.”
For its part, Hamilton Public Works officials hope to have a plan to present to council by this fall for the electrification of the HSR fleet. Infrastructure Minister Catherine McKenna was in Hamilton last week to announce funding for dozens of buses fueled by compressed natural gas. Nonetheless, she says her ministry plans to provide funding for more than 5,000 zero-emission buses across Canada