On February 2, 2024, the University of Toronto announced its $138-million infrastructure project which aims to reduce greenhouse gas emissions by more than 50 percent, or 45,000 tonnes of CO2 equivalents, by the end of the decade.

The project received financing from Royal Bank of Canada and the Canada Infrastructure Bank as well as grants from Environment and Climate Change Canada (ECCC) and Ontario’s Independent Electricity System Operator (IESO) through a public procurement process.

Davies Ward Phillips & Vineberg LLP represented the Royal Bank of Canada with a team that included Anthony Spadaro, William Buchner and Alex Maly (Project Finance).

Cassels Brock & Blackwell LLP represented the University of Toronto with a team that included Charles Newman, Mark St. Cyr, Jonathan Fleisher, Corina Shachar and Sam DiGiuseppe.

McCarthy Tétrault LLP represented the Canada Infrastructure Bank with a team that included Lynn Parsons, Samantha Cunliffe, Liezl Behm and Zachary Kroll.