Blackstone Energy gets C$300 million loan via Enbridge Sustain, CIB

By Mary-Katherine Stinson

Lexington, Ky., Oct. 24 – Blackstone Energy Services secured C$300 million in funding for sustainable retrofits of existing large buildings in Ontario, according to a press release.

The Canada Infrastructure Bank (CIB) will provide an up to C$200 million loan while Enbridge Sustain will contribute up to C$100 million.

The program will enable Blackstone’s and Enbridge’s customers such as hospitals, universities multi-residential buildings, and colleges to pursue their energy transition goals and will target a minimum 30% reduction in greenhouse gas emissions.

Projects will be developed and executed through a partnership between Enbridge Sustain and Blackstone Energy Services.

The proposed transactions are subject to the completion of definitive agreements.

Enbridge Sustain is an unregulated division of Calgary, Alta.-based Enbridge Gas Inc. that provides energy-as-a-service solutions to homeowners, developers, and commercial customers. Toronto-based Blackstone is an energy transition company delivering responsible energy and carbon management solutions.

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