An agreement in principle has been reached between Canada Infrastructure Bank (CIB) and Brampton Transit that will see CIB commit up to C$400 million (US$318 million) to support the purchase of up to 450 zero-emission buses by Brampton Transit.
The financial contribution, which is expected to reach financial close in late 2021, would help cover the upfront capital cost of the zero-emission buses and related infrastructure. Brampton has a goal to reduce greenhouse gas emissions by 80 percent by 2050 and electrifying transit vehicles will help the city achieve this.
In May 2021, Brampton Transit entered eight battery-electric buses into service as part of the first multi-city deployment of interoperable buses and charging equipment. The city of Brampton is part of the Pan-Canadian Battery Electric Bus Demonstration and Integration Trial, led by the Canadian Urban Transit Research and Innovation Consortium.
“I am proud to welcome the CIB’s multi-million-dollar commitment towards Brampton Transit. We are revolutionizing transit in Canada with our goal to purchase up to 450 zero-emission buses on Brampton’s roads in the next six years. Brampton is a Green City, and together, we can reduce our carbon footprint and become an even more modern and sustainable city,” said Brampton Mayor Patrick Brown.
The CIB’s zero-emission bus initiative includes C$1.5 billion (US$1.24 billion) to assist public transit agencies and school bus operators transition their fleets to modern, environmentally friendly vehicles. In March, the government of Canada committed an additional C$2.75 billion (US$2.17 billion) over and above the CIB funds to help transportation providers transition to electric power. The federal government has a goal to help purchase 5,000 zero-emission buses over the next five years.
“I am delighted the CIB is making this major investment to support the massive expansion of the city of Brampton's fleet of zero-emission buses. Our partnership will help Brampton become a Green City and provide cleaner public transportation for generations to come. This is a tremendous opportunity to make a difference in modernizing municipal infrastructure. The CIB will continue making investments which improve the quality of life for Canadians and support more sustainable communities,” said President and CEO of CIB Ehren Cory.
The investment in Brampton Transit is the third zero-emission funding commitment CIB has made this summer. CIB will fund up to C$400 million (US$318 million) to support OC Transpo’s purchase of up to 450 zero-emission buses by 2027 and C$14.4 million agreement with the city of Edmonton, Alberta, to purchase 20 zero-emission buses for Edmonton Transit Service.
The final agreement will be subject to Brampton City Council and Regional Council approval.
