Canada Infrastructure Bank looks to 'take a risk on returns' and help fill commercial gaps: CEO
The Canada Infrastructure Bank (CIB) is committing $80 million toward the Atlin Hydroelectricity Expansion, a clean power project it says will benefit residents of the Yukon territory.
The commitment is in collaboration with Tlingit Homeland Energy LP, which is fully owned by the Taku River Tlingit First Nation.
The CIB says the expansion project will provide job opportunities to local members during the construction phase and operations.
The project includes a new 9.2 megawatt hydroelectric facility, and a 93 kilometre transmission line that will deliver clean power and help reduce greenhouse-gas emissions by about 29,500 tonnes annually.
The CIB says the investment is the third commitment by the bank under the Indigenous Community Infrastructure Initiative.
The bank was launched in 2017 with the purpose of financially supporting revenue-generating infrastructure projects through public-private partnerships, but has been criticized for its usefulness and efficiency over the last couple of years.