Canada Infrastructure Bank aiming to help accelerate zero-emission vehicle adoption

Canada Infrastructure Bank is launching its $500-million initiative to boost zero-emission vehicle charging and refuelling infrastructure.

First announced in the spring as part of Canada's 2030 Emissions Reduction Plan and the federal budget, the initiative will support Ottawa's goal of accelerating the adoption of zero-emission vehicles and the addition of 50,000 new chargers and refuelling stations across Canada.

The bank says it will provide financing to the private sector structured to share in charging and refuelling infrastructure use risk by aligning repayment with use levels.

If use does not reach certain agreed levels, then required repayments will be proportionally lower, and if use levels exceed expectations, the bank's return will increase proportionally.