City of Richmond Special Council Meeting Agenda Packet 2026-06-15
30-Year District Energy Agreement with City Centre Energy LP
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Description
Lulu Island Energy Company is proceeding under a 30‑year Project Agreement with City Centre Energy Limited Partnership to design, build, finance, operate, and maintain the City Centre and Oval Village district energy infrastructure. The agreement carries an estimated $609.7 million total liability at full build‑out, supported by Canada Infrastructure Bank financing.
Contract Details
Contract Amount
$609,717,000 (estimated total Project Agreement liability at full build-out)
Vendor
CITY CENTRE ENERGY LIMITED PARTNERSHIP
Agency
City of Richmond, Canada
Contract Type
MAINTENANCE
Document Date
June 6, 2026
Contract Term
30-year Project Agreement executed September 2022
Renewal Date
2052-09-30
Renewal Info
Project Agreement has a fixed 30‑year term starting from its execution in September 2022; any renewal or extension would require future negotiation and is not specified in the document.
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