Lonsdale Energy Corporation or LEC is a wholly owned
city of North Vancouver
The City of North Vancouver is a city on the north shore of Burrard Inlet, British Columbia, Canada. It is the smallest in area and the most urbanized of the North Shore municipalities. Although it has significant industry of its ownincluding ...
corporation working in partnership with
Terasen Utility Services to deliver energy services to the
Lower Lonsdale area of North Vancouver since 2003.
It has received $8 million in government and
private sector
The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government.
Employment
The ...
funding. Green Municipal Funds, endowed by the
Government of Canada
The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown ...
and administered by the
Federation of Canadian Municipalities, support the project with a $2 million low-interest
loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that d ...
and a $2 million
grant. Terasen Utility Services and the municipality are each providing $2 million.
The district energy system will produce hot water at a series of mini-plants within Lower Lonsdale
and then distribute the hot water energy through underground pipes to buildings connected to the
system. Once used in the connected buildings, the water is returned to a mini-plant, reheated and
circulated back to the connected buildings.
References
Companies based in North Vancouver
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