Canada Infrastructure Bank

So order of magnitude, it's much larger.

And that summit in 2016 was originally meant to kind of advertise the upcoming creation of the Canada Infrastructure Bank and the Invest in Canada hub, both of which I would say afterwards kind of struggled a little bit with implementation.

But the point being, if you look back upon the last decade and and your thesis is that Canada didn't do enough deals, clearly the organizing of the summit is an insufficient input to be able to ensure that those deals actually come together.

Because Justin Trudeau did it, there was a lot of interest, there was 50-odd trillion dollars in today's dollars in the room, and we didn't get the degree of interest subsequently.

The ability to incentivize it.

So these crown corporations, one is Canada Infrastructure Bank, for an example, is built around their mandate to ensure that certain projects that wouldn't necessarily be bankable because they're a first of a kind by combining existing technologies.

Cielo's project with the nation fits squarely inside of their mandate.

And that is an example of the Crown Corporation essentially allowing us to finance this through low interest debt, through certain equity wedges and other things before we even get to FID that allow this project to have an opportunity to be successful.

So we kinda had to reverse engineer an estimate of what the total cost is.

We think, uh, $1.6 billion, uh, based on some information from the Canada Infrastructure Bank, which is helping to fund, uh, the purchase.

Uh, we invite BC Ferries to tell us what the actual number is, and then we wouldn't need to use an estimate.

Uh, but we think that's a reasonable estimate for the four ships.

these four ferries.

Didn't the federal government contribute money?

money?Yes, they did, through the Canada Infrastructure Bank, and that's how we came up with our guess on the $1.6, ah, billion total cost of the four.

The Infrastructure Bank, ah, put in a, a certain amount, and then there's rules in the Infrastructure Bank about what proportion of the total project can be covered by the Infrastructure Bank.

We've got an update there that we'll get to in just a moment.

well in last month's budget on march 28th the canadian federal government ended up betting big themselves and especially on powering the canadian economy with low carbon electricity we saw a total of three billion dollars in additional support the next 13 years for grid decarbonization electrification $20 billion, that's in the form of grants, $20 billion of support for clean electricity investments through the Canada Infrastructure Bank.

It's typically financing.

We saw a clean manufacturing tax credit that could apply to manufacturing of renewable energy and energy storage equipment.

How many people has Mark Carney installed into jobs that didn't exist before with big six-figure salaries, you know, like over a half a million bucks? This guy, Dominic Barton, former managing director for consulting firm McKinsey & Co., Lots of McKinsey & Co guys in the Canadian government or bureaucracies.

Also in the Canada Infrastructure Bank.

They're the ones that lent the money to the Chinese.

Chinese lent the money, used Canadian Infrastructure Bank money to build BC Ferries.