Ontario Construction News staff writer
The Canada Infrastructure Bank (CIB) is loaning $50 million to Dream Industrial REIT to retrofit 34 mid- and large-bay industrial warehouses in Alberta, Ontario and Quebec as part of a national effort to reduce building emissions and improve energy efficiency.
The project is expected to enhance mechanical and electrical systems, integrate renewable energy sources, upgrade HVAC infrastructure, and support fuel switching, electric vehicle charging and energy management technologies. Building envelopes will also be improved to better retain heat and reduce energy loss.
According to the CIB, the upgrades will not only improve energy efficiency and resiliency but also generate an estimated 14,500 megawatt-hours of clean electricity through solar panel installations. The initiative is expected to create approximately 630 jobs.
“Buildings account for 18 per cent of Canada’s emissions,” the CIB said in a statement. “Our investments help accelerate retrofits that cut energy use and support a low-carbon economy.”
The funding is part of the CIB’s $1.5 billion Building Retrofit Initiative, which aims to modernize infrastructure while supporting sustainability goals. The targeted warehouses are used for light industrial operations, urban logistics and distribution.
“We are excited to partner with the CIB to complete large-scale energy efficiency improvements across our Canadian industrial portfolio,” said Alexander Sannikov, president and CEO of Dream Industrial REIT. “These retrofits align with our strategy to improve sustainability, resiliency and investment returns.”
Federal officials highlighted the project as part of a broader commitment to green infrastructure.
“The CIB’s partnership with Dream Industrial will cut emissions and lower energy costs of commercial buildings across Alberta, Ontario and Quebec,” said federal infrastructure advocate Gregor Robertson. “Our government is investing in infrastructure that supports businesses, creates jobs and strengthens our economy.”
