CIB $135 million financing of clean energy infrastructure projects

Dentons advised the Canadian Infrastructure Bank (CIB) in its $135 million financing of clean energy infrastructure projects in the City of Markham, Ontario through Markham District Energy Inc. This clean energy loan involves funding for projects related to infrastructure in five main categories, (1) energy production facilities, (2) distribution systems (thermal grid), (3) energy transfer stations, (4) low carbon thermal productions, combined heat and power and thermal storage, (5) asset renewal that improves the efficiency of the relevant project. This matter was significant because it involved multiple projects at multiple sites within the City of Marham, requirements for Indigenous groups consultation and a co-funding arrangement with a private capital lender (Canadian Imperial Bank of Commerce). 

The facility covenants includes both traditional covenants and those related to the intended reduction of greenhouse gas emissions.