Canada Infrastructure Bank invests in future zero-emission buses
The Canada Infrastructure Bank (CIB) has invested $380 million with the City of Ottawa. This is to help finance up to 446 more OC Transpo Zero-Emission Buses (ZEBs) through 2027.
The CIB’s loan will go towards upfront costs of the battery-electric buses. Repayment is expected to be covered through the reduced operating costs over the life of the ZEBs as compared to diesel buses.
Currently, average diesel use per bus is about 35,000 litres each year. The 450 ZEBs are estimated to save approximately 38,500 tonnes of GHGs each year.
Energy and charging equipment will be supplied by Hydro Ottawa through a separate agreement with the City.
OC Transpo welcomed its first four 40-foot battery-electric buses into service in early 2022. Thanks in part to CIB funding, the aim is to add 26 more in 2023, and another 420 by the end of 2027. With the gradual phase-out of diesel buses as they reach the end of their life cycle, OC Transpo could achieve a fully zero-emission bus fleet by 2036.
This move plays an important part in the City's Climate Change Master Plan and goal to reduce the GHG emissions of City operations by 100% by 2040.