Financing arranged for BC Ferries to acquire new zero-emission ferries

BC Ferries has obtained a $75-million loan from the Canada Infrastructure Bank (CIB) to purchase four zero-emission ferries and install the necessary charging infrastructure.

“Our partnership with the CIB to deliver these new Island Class vessels will increase system capacity, improve our flexibility to move ships across routes and make it easier to train and deploy our teams,” says Nicolas Jimenez, the president and CEO at BC Ferries.

Set for completion by fiscal 2027, the new ferries will provide service on small volume, shorter routes. Their replacement of older diesel-hybrid ferries along with terminal upgrades are expected to eliminate 9,000 metric tons of greenhouse gas (GHG) emissions annually.

The CIB loan will cover the higher capital costs of acquiring electric rather than diesel-powered vessels. This first CIB investment in zero-emission ferries expands its transit portfolio beyond zero-emission buses.