Projects

Maine International Cold Storage (MICSF)

Transport and Logistics

Amber and the Maine Port Authority worked to develop and construct the MICSF, a cold storage facility serving domestic and international customers located on port owned land in Portland Maine.

Sector

Transport and Logistics

Location

Portland, Maine, USA

Status

Under construction

Equity Ownership

100%

Financial close

August 2022

Term length

50 years

About

The Maine International Cold Storage Facility project involves the design, construction, operations, maintenance and financing of a 107,000 square foot cold storage facility adjacent to theMarine Terminal (IMT) in Portland, Maine under a 50-year lease with the Maine Port Authority (the Project). MICSF is the largest rooftop solar PV array in Maine.

The Project will deliver critical infrastructure to support the domestic and international transportation and distribution of refrigerated products throughout northern New England and will create long-term environmental and economic benefits for Maine.

The Maine Department of Transportation (Maine DOT) has contributed over $65 million to expand the operational capacity for logistics, freight and shipping at the IMT and will provide funding for the Project which will play a key part in this ongoing expansion.

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Key impacts and benefits

Cold storage facility

0,000 sq ft

Estimated economic impact for State of Maine

0 MM+

Estimated economic impact for State of Maine between 500-900 MM

Why we invested

Amber invested in this project due to the innovative business model created for the MICSF with public funds securing riskier elements of the construction and ownership.

Significant sustainability benefits including CO2 reduction, reduction in trucking miles and onsite electrical generation
Demonstrable benefits for local and State economy

Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

SDG contribution

Outcomes

Maine currently has insufficient cold storage facilities to support food and pharmaceutical industries which are key drivers of Maine’s economy. Ongoing growth of the food industry in Maine, consumer trends and demands on all segments of the supply chain have necessitated the need for increased modern cold storage capacity.

The Project has strong local and state political support, including endorsement of the Governor's office because of the widespread long-term economic and environmental benefits of the Project to Maine
The development team has engaged with stakeholder groups throughout the permitting, planning and preliminary design process and will continue stakeholder outreach through Project delivery

Maine International Cold Storage (MICSF)

About

Why we invested

Sustainable Development Goals (SDGs)

Outcomes

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