In a significant move towards environmental sustainability, the Montreal Port Authority (MPA) has announced a strategic partnership with SOFIAC, an investment fund specializing in decarbonization. This collaboration marks the beginning of a comprehensive energy efficiency project aimed at significantly reducing the carbon footprint of the MPA’s operational buildings.
The project, which could see an investment of several million dollars from SOFIAC, will involve deep retrofits to the MPA’s three main buildings: the Cité du Havre, the MPA’s headquarters; the Grand Quai of the Port of Montreal, a landmark in the Old Port; and the building housing infrastructure management, mechanical workshops, and rail operations at 3400 Notre-Dame East.
SOFIAC’s innovative model allows the MPA to benefit from these energy-saving upgrades without any upfront capital investment. The investment will be repaid through the energy savings generated by the project. Furthermore, SOFIAC, alongside its technical partner Siemens, will oversee the entire implementation process, ensuring a seamless and effective execution.
This initiative is expected to reduce greenhouse gas emissions from the MPA’s buildings by over 60%, bringing the organization closer to its goal of achieving carbon neutrality. “This project is a crucial step in our sustainability efforts,” stated Benoit Viens, Senior Director of Environment and Real Estate at the MPA. “With SOFIAC’s expertise and support, we will transform our infrastructure to be more energy-efficient while significantly reducing our carbon footprint.”
Michel Methot, Senior Vice President at SOFIAC, emphasized the fund’s commitment to providing customized, sustainable solutions. “This partnership with the Montreal Port Authority reflects our dedication to delivering energy savings with no financial risk for our clients. We are proud to contribute to this ambitious carbon neutrality vision,” he said.
The Port of Montreal, operated by the MPA, is Eastern Canada’s largest container port and a diversified transshipment hub handling all types of goods. It is the only container port in Quebec, serving as a destination port for the world’s largest shipping lines. The MPA also operates a cruise terminal and a port interpretation center, all while integrating economic, social, and environmental considerations into its corporate strategy.
SOFIAC, launched in 2021, assists companies in the commercial, industrial, and multi-residential sectors in enhancing their profitability and competitiveness by implementing energy transition and decarbonization projects. The fund’s innovative business model allows clients to immediately realize energy savings without any upfront investment.
This partnership between the MPA and SOFIAC signifies a significant step forward in the pursuit of a sustainable future for the Port of Montreal, a key player in Canada’s economy.