Small and medium sized Canadian enterprises (SMEs) have been given access to the financial services from the Export Development Canada (EDC), to help them manage the costs of providing supply and/or services to the Muskrat Falls hydro-electric facility in Newfoundland
ST. JOHN’S,N.L.
Small and medium sized Canadian enterprises (SMEs) have been given access to the financial services from the Export Development Canada (EDC), to help them manage the costs of providing supply and/or services to the Muskrat Falls hydro-electric facility in Newfoundland.
“The Muskrat Falls project matches up with EDC’s approach to the offshore energy sector, and our intention is to make it easier for SMEs to manage their cash flows when they supply into the project,” said David Surrette, Regional Vice-President, Atlantic Canada, EDC.
“Taking a longer term view, EDC wants to help these companies take their first steps into selling internationally. Once EDC gets to know a customer, we can help open doors to some of the world’s leading multinationals when their needs and your offer match up well. EDC does more than provide financing, we can help you win new business.”
EDC recently concluded a review of the Muskrat Falls project that confirmed that the level of production destined for international export markets meets EDC’s exporting criteria, opening up its financial services to all of the Canadian suppliers of Muskrat Falls.
EDC will be working closely with Nalcor Energy and Emera Incorporated to make sure that EDC is delivering the right financial tools for suppliers to the project.
The Muskrat Falls project includes the construction of a generating facility, the Labrador – Island transmission link, and transmission assets and the Maritime link.
Suppliers to Muskrat Falls can be required to post bid and performance bonds, which EDC can help with.
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