{"id":7477,"date":"2026-08-25T19:41:37","date_gmt":"2026-08-25T19:41:37","guid":{"rendered":"https:\/\/econoler.com\/?post_type=case_study&p=7477"},"modified":"2026-09-04T15:48:05","modified_gmt":"2026-09-04T15:48:05","slug":"unlocking-private-sector-investment-through-canadas-first-super-esco","status":"publish","type":"case_study","link":"https:\/\/econoler.com\/en-ca\/case-studies\/unlocking-private-sector-investment-through-canadas-first-super-esco\/","title":{"rendered":"Unlocking private-sector investment through Canada’s first Super ESCO\u00a0"},"content":{"rendered":"\n
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A Canadian response to a persistent financing gap<\/h2>\n\n\n\n

SOFIAC was launched in fall 2020 as the first Super ESCO in Canada and one of the first initiatives of its kind in North America. Its creation followed an Econoler study for the Government of Quebec, which identified a lack of financing mechanisms adapted to private-sector energy efficiency investment. Econoler and Fondaction Gestion d\u2019Actifs<\/a>, Fondaction\u2019s asset management subsidiary, jointly structured the initiative, with financial support from Quebec\u2019s Ministry of Energy and Natural Resources and Natural Resources Canada<\/a>.<\/p>\n<\/div>\n\n\n\n

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The operating model was designed around long-term agreements of 10 to 15 years, enabling deeper retrofits and more significant decarbonization outcomes. SOFIAC combines turnkey project development, 100% non-recourse financing under shared-savings arrangements, subsidy management and optimization, an open-book approach to costs, independent measurement and verification management, and coordination of ESCOs and third-party experts throughout project delivery.<\/p>\n\n\n\n

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The fund began with a CAD 150 million financing capacity and a 4:1 debt-to-equity leverage ratio. Portfolio risk is distributed across projects requiring investments of CAD 1 million to CAD 20 million. Where appropriate, projects are bundled into calls for tenders to generate economies of scale.<\/p>\n\n\n\n

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Removing barriers while strengthening competitiveness<\/h2>\n<\/div>\n<\/div>\n\n\n\n
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For participating enterprises, the SOFIAC model transforms energy efficiency from a capital-intensive, technically complex undertaking into an integrated service. Clients can implement projects with minimal internal involvement, without assuming upfront costs or reducing their financing capacity. Long-term, performance-based agreements support more ambitious measures, while independent measurement and verification and an open-book approach reinforce transparency and accountability.<\/p>\n\n\n\n

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The model is designed to lower energy costs and strengthen the profitability and competitiveness of Canadian commercial and industrial enterprises. More broadly, it supports an efficient, profitable, and inclusive energy transition by aligning the interests of private-sector clients, governments, investors, ESCOs, and technical specialists.<\/p>\n<\/div>\n\n\n\n

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A platform positioned for national scale<\/h2>\n<\/div>\n<\/div>\n\n\n\n
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By 2025, SOFIAC had committed more than CAD 100 million to energy efficiency investments<\/strong> and developed a pipeline representing approximately CAD 100 million in additional opportunities<\/strong>. <\/p>\n\n\n\n

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Clients SOFIAC helped:<\/p>\n\n\n\n