Creative Energy Developments, an owner and operator of district energy systems in North America, has secured a $53 million credit facility to support its low-carbon projects in Vancouver and Toronto.
The credit facility includes the refinancing of $28 million of existing debt and a new $22 million green loan facility, led by HSBC Bank Canada and Toronto-Dominion Bank.
Creative Energy Developments’ current low-carbon projects include an ocean-exchange district energy system at Horseshoe Bay Sanctuary and a new district cooling system for Main Alley in Vancouver, as well as a neighborhood energy system and microgrid that will provide heating, cooling and power to the 10 percent rental Mirvish Village project in Toronto, among others.
“District energy, at its core, is about meeting the needs of our rapidly growing communities while responding meaningfully to climate change,” said Krishnan Iyer, CEO of Creative Energy. “Together with our partners, we help ci