BC Ferries secures $75M federal loan to add 4 new electric vessels to fleet

BC Ferries to buy 4 new electric vessels with $75M federal loan

“Canada Infrastructure Bank is making a bold move by lending $75 million to British Columbia’s ferry service for the purchase of four zero-emission vessels and the installation of electric charging infrastructure. This initiative marks a significant step towards a more sustainable and eco-friendly transportation system in the region.

Revolutionizing Ferry Services in British Columbia

In a recent development, the federal Crown corporation has finalized a deal with BC Ferry Services to support the expansion of their electrification efforts. The plan includes terminal upgrades to be completed by 2027, with the battery electric ferries set to operate on small-volume and shorter routes.

These new vessels are part of BC Ferry Services’ strategy to replace the existing fleet with quieter and environmentally friendly options. The move is expected to reduce greenhouse gas emissions by a staggering 9,000 tonnes annually, offering a promising outlook for the future of marine transportation.

Promoting Sustainability with Financial Assistance

The loan provided by Canada Infrastructure Bank will cover the higher initial costs of the electric ferries and the essential charging infrastructure. The repayment of the loan is planned to come from passenger fares and retail revenues, ensuring a sustainable financial model for the project.

Embracing Innovation for a Greener Future

Six hybrid electric Island class ferries have already been integrated into the fleet over the past two years, showcasing the commitment of BC Ferries to adopt cutting-edge technology in maritime transportation. These vessels are equipped with innovative technology that facilitates charging until shore-based infrastructure becomes more widespread.

The loan from Canada Infrastructure Bank signifies a significant investment in the transition towards a greener and more sustainable future for ferry services in British Columbia. By supporting the electrification of marine transportation, this initiative sets a positive example for other regions to follow.

In conclusion, the collaboration between Canada Infrastructure Bank and BC Ferry Services highlights the importance of investing in sustainable transportation solutions. As we strive to reduce our environmental impact and combat climate change, initiatives like this play a crucial role in creating a more sustainable future for generations to come.”



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