Export Development Canada reaches record $12 billion in support for cleantech businesses, achieves goal 2 years early

January 11, 2024 – Ottawa, Ontario – Global Affairs Canada

Today, the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, announced that Export Development Canada (EDC) provided a record of more than $12 billion in support for cleantech business in 2023, achieving its target 2 years ahead of schedule.

In 2022, EDC set the goal of providing $10 billion in support for cleantech businesses in 2025. As of December 31, 2023, EDC had exceeded its target by providing more than $12 billion in financing and insurance solutions to more than 440 cleantech businesses—up from $8.8 billion and 392 companies in 2022. Since 2012, EDC has supported nearly $41-billion worth of cleantech exports and is a leading financier of Canada’s cleantech industry.

EDC helps Canadian businesses succeed in markets around the world by providing the financial products, services and knowledge they need to grow from local to global. EDC supports a strong, sustainable and inclusive Canadian economy and good middle-class jobs as Canada’s export credit agency.

As one of Canada’s largest financiers of cleantech, EDC provides support for businesses across all subsectors, including renewable power generation, biofuels, energy efficiency and green buildings. EDC has helped Canadian cleantech companies of all sizes achieve success on the global stage.