Clean Energy Financing
Your financing partner for the low-carbon future
At VCIB, we find innovative solutions to get your unique clean energy and energy efficiency projects off the ground, built, and scaled.
$3M - $50M
for a single project or portfolio of smaller projects
60 - 80%
debt financing of total costs, although some structures may allow for 100% financing.
depending on the risk profile
2 to 15 years
with amortizations of up to 30 years for loans to operating projects, or as short as 3 to 6 months for construction loans.
& energy storage
heating & cooling
(see VCIB Green Mortgages)
Microgrids and transmission & distribution upgrades
(waste-to-energy / bio-energy)
Solutions for projects that are “shovel-ready.”
Optimize your operational projects.
Build and aggregate a portfolio of projects.
or PACE structures
Support for municipal or utility clean energy or efficiency programs.
A proven track record
Our team has supported the development or installation of more than 1,650 distributed clean energy or energy efficiency projects across Canada. Click on any of the thumbnails below to learn more.
Wind Farm Refinancing Helps First Nation Deliver Community Benefits
Dec 6, 2021
For Matt Jamieson, “Indigenous participation in the clean energy economy provides a platform to invest in a brighter future, to […]
Canada Infrastructure Bank Invests $19.3 million in Toronto Western Hospital Retrofit Project
Oct 26, 2021
TORONTO, Oct. 21, 2021 /CNW/ – The Canada Infrastructure Bank (CIB) has reached financial close on the world’s largest raw wastewater energy […]
Stem, Inc. and VCIB announce breakthrough financing for behind the meter energy storage in Ontario
May 6, 2021
Thursday, May 6, 2021: VCIB is located on the traditional territory of multiple Indigenous nations, including the Haudenosaunee and the […]
World’s largest wastewater energy transfer project to supply renewable energy to Toronto Western Hospital
Apr 16, 2021
Delivered by Noventa Energy Partners, the new system will supply 1.8 billion kilowatt-hours of low-carbon energy from raw wastewater to […]
Meet the Team
Our team of experts is committed to finding financing solutions to set your project up for long-term success. To learn more,or tell us about your project and get started today.
Ready to get financing for your clean energy project or retrofit?
Frequently Asked Questions
With VCIB, developers and building owners have access to a broader range of clean energy financing services than is typically offered by most financial institutions. These include both project financing and commercial mortgage financing across a wide range of clean technologies and business models.
What is it like to work with VCIB?
We have a deep understanding of clean energy markets, technologies and business models, and often become actively involved with our clients in helping structure projects to create the best outcomes. We are mission driven and believe in the importance of accelerating the transition to a low-carbon economy which creates great alignment with our clients.
What are your high-level investment criteria?
We look at several key considerations for project-finance transactions.
- The project must contribute to the solutions to climate change by reducing energy or generating clean power.
- The project developer and other partners are experienced with strong teams and track records.
- The project should use well-established technologies and have appropriate warranties and insurance in place.
- The counterparty or purchaser of the energy or efficiency services is creditworthy, and credit risk is moderate and mitigated.
- The loan is secured by project cash-flows, material contracts and by physical equipment where appropriate.
- Construction risk and operational risk is moderate and mitigated.
Other deal structures may look at different criteria – please get in touch with us to learn more depending on the nature of your project or initiative.
What can I expect in terms of due diligence?
Each loan follows a thorough yet practical due diligence process and is structured by our team of professionals and support from experienced legal counsel.
The process is adapted to suit the needs of each borrower and typically includes a review of both the sponsor and the project. This includes the sponsor’s corporate history, background, development expertise, management team, financial performance, liabilities, potential conflicts of interest, capitalization and funding sources. For the project, we review and analyze financial projections and assumptions, the project construction schedule, suppliers of technology and feedstock, operation & maintenance requirements and contracts, regulatory considerations, environmental status or claims and insurance.
What is the relationship between VCIB and CoPower?
In 2019, VCIB acquired CoPower. CoPower continued to operate as a wholly owned subsidiary of VCIB with back-office support provided by the bank until 2021 when the two organizations integrated their strategy and operations. As part of this integration, the decision was made to winddown CoPower’s green bond fundraising model and transition its clean energy lending business to VCIB.
CoPower’s founding team have joined VCIB, including Trish Nixon, VCIB’s Managing Director of Commercial Impact Banking, Jonathan Frank, Director of Clean Energy Business Development, and David Berliner, Director of Structuring Clean Energy Financing.