By Canadian Manufacturing.com, August 11, 2022
OTTAWA — The Canada Infrastructure Bank (CIB) has achieved financial close on an investment of up to $380 million with the City of Ottawa (City) to help finance up to an additional 446 OC Transpo zero-emission buses (ZEBs) through 2027.
The CIB’s loan will contribute towards the upfront capital cost of the battery-electric buses, which will help accelerate the electrification of OC Transpo’s bus fleet.
OC Transpo welcomed its first four new 40-foot battery-electric buses into service in early 2022 and, thanks in part to CIB funding, is seeking to add 26 more in 2023, and another 420 by the end of 2027.