29 November 2021
Montreal, November 29, 2021 — SOFIAC is pleased to announce a new partnership with ADM Aéroports de Montréal to develop a large-scale energy efficiency and greenhouse gas (GHG) emission reduction project. Decarbonization, the implementation of innovative energy solutions, as well as significant energy cost and consumption reductions are at the heart of this significant project that will cover all airport infrastructure at the YUL Montreal-Trudeau International Airport and YMX International Aerocity of Mirabel locations.
According to Philippe Rainville, President and Chief Executive Officer at ADM Aéroports de Montréal Airport, “This partnership with SOFIAC will enable ADM to significantly accelerate efforts to achieve carbon neutrality. Our organization is firmly committed to changing how we do things and being more proactive in the fight against climate change. Although the YUL air terminal emits the least GHG emissions compared to other Canadian airport terminals, we firmly believe that the innovative SOFIAC approach will help us further reduce emissions. Securing the future of the airline industry involves concrete actions that, as our initiative targets, help key players in the industry reduce their environmental footprints.”
According to Michel Méthot, Chief Executive Officer at SOFIAC, “SOFIAC is extremely proud to launch its first large-scale project with ADM Aéroports de Montréal. We are starting the procurement phase of this infrastructure investment based on properly established benchmarks thanks to invaluable months of collaboration. This project will be reimbursed over a 15-year period solely by using a portion of the energy savings generated and will greatly contribute to our local green economy.”
This construction project will be rolled out over the next two years and is a precursor to a long series of SOFIAC projects that will generate local economic benefits amounting to tens of millions of dollars. The SOFIAC intermediary mechanism eliminates barriers to the implementation of energy efficiency infrastructure projects and successfully aligns the needs of clients with those of key stakeholders in the energy efficiency market, namely high-quality entrepreneurs, equipment suppliers, and consultants. This first large-scale project demonstrates SOFIAC’s commitment to the energy transition and the interesting financing and intermediation market aspects of the innovative SOFIAC approach.
SOFIAC was launched in January 2021 by Econoler and Fondaction with the support of the ministère de l’Énergie et des Ressources naturelles du Québec (MERN). SOFIAC completed its first round of financing last October, which totalled $200 M.
ADM is committed to achieving precise sustainability objectives including energy efficiency improvements, significant GHG emission reductions, water consumption reductions, and the ultimate objective of zero waste.
All details on ADM achievements and sustainable development strategies are available at https://developpementdurable.admtl.com/.
Founded in 2020, SOFIAC helps commercial, industrial, and multi-residential enterprises increase their cost-effectiveness and competitiveness by developing, financing, and implementing energy efficiency projects. The innovative SOFIAC business model permits clients to benefit immediately and without initial investments from a portion of the savings generated by reducing energy consumption levels. For more information, consult sofiac.ca.
ADM Aéroports de Montréal is the airport authority for the Greater Montréal area responsible for the management, operation and development of YUL Montréal-Trudeau International Airport, certified 4-stars under the Skytrax World Airport Star Rating program, and YMX International Aerocity of Mirabel.
Chief Executive Officer, SOFIAC
ADM Aéroports de Montréal Public Affairs