North Island Hospitals Project

Along with its consortium partners, CC&L Infrastructure worked with the Vancouver Island Health Authority to design, build, finance and maintain two acute-care facilities providing service to Vancouver Island’s Comox Valley and Campbell River as well as the surrounding communities.

The North Island Hospitals Project was delivered in consultation with the provincial government and the local community through a public-private partnership (P3) model. The LEED-gold-certified hospitals were financed in part through the issuance of green bonds – the first such debt financing for a P3 infrastructure project in North America.

Investment Highlights

Initial Investment Date

  • June 2014


  • British Columbia, Canada


  • Social


  • Acquired at construction-stage; operational as of April 2017

Cashflow Profile

  • 30-year, fixed-price availability-based concession agreement


  • LEED-gold-certified buildings
  • Financed with green bonds
  • Created local jobs and community investment
  • Winner of Canadian Council for Public-Private Partnerships’ Silver Award for Infrastructure Sustainability

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