The Canada Infrastructure Bank has invested $277 million in the Varennes Carbon Recycling facility, Canada's largest biorefinery, aimed at converting waste into biofuels and addressing greenhouse gas emissions.

Information on the Target

The Varennes Carbon Recycling facility, a collaboration between Shell, Suncor, Proman, and the government of Québec, is set to be the largest biorefinery in Canada. The project aims to convert over 200,000 tonnes of non-recyclable waste and residual biomass into biofuels, leveraging an advanced technology platform developed by Enerkem. Upon completion, the facility is expected to generate approximately 130 million litres of biofuels per year while significantly reducing greenhouse gas emissions.

The overall investment in the facility amounts to $1.2 billion, with the Canada Infrastructure Bank (CIB) contributing a loan of $277 million. This initiative is positioned to not only produce renewable energy but also create over 500 temporary jobs during construction and approximately 100 permanent positions once operational.

Industry Overview in Canada

Canada’s renewable energy sector is at the forefront of global efforts to transition to a low-carbon economy. With a strong emphasis on environmental sustainability, the Canadian government has implemented various initiatives a