Second stage of review of the OECD Sector Understanding on Export Credits for Renewable Energies and Water Projects - Consideration of the challenges related to climate change

Closing date: August 25, 2009

The purpose of this notice is to provide interested parties with an opportunity to participate in a consultation process relating to the possible expansion of the list of eligible sectors under the Sector Understanding on Export Credits for Renewable Energies and Water Projects (REWSU). The REWSU is an Organisation for Economic Co-operation and Development (OECD) agreement that establishes the most generous export credit terms and conditions that export credit agencies, including Export Development Canada (EDC), may apply when providing officially supported export credits related to the financing of new or the modernization of existing renewable energies and water projects.

On June 24, 2009, the Organisation for Economic Co-operation and Development (OECD) announced that its members had agreed to make this Sector Understanding permanent and to enhance official support for export credits in the renewable energy and water sectors. The REWSU features repayment terms of up to 18 years and increased flexibility in repayment schedules, accompanied by revised fixed interest rates for the longer tenors.

The current list of eligible sectors consists of:

• Wind energy
• Geothermal energy
• Tidal and tidal stream power
• Wave power
• Solar photovoltaic power
• Solar thermal energy
• Ocean thermal energy
• Bio-energy (sustainable biomass, landfill gas, sewage treatment plant gas, and biogas energy installations)
• Projects related to the supply of water for human use and wastewater treatment
• Hydro power
• Energy efficiency in renewable energies projects

The second stage of the review, scheduled to conclude at the end of 2009, will consider the possible expansion of the scope of the REWSU to incorporate technologies related to climate change, including enhanced energy efficiency and low-carbon projects. Local costs and floating interest rates will also be considered.

In preparation for this second stage, the Government of Canada invites concerned stakeholders to indicate their interest in participating in a consultation process relating to the scoping of the OECD Sector Understanding on Export Credits for Renewable Energies and Water Projects. This consultation process will inform Canada’s position in preparation for the next round of discussions of the REWSU at the OECD in late September 2009.

Please send expressions of interest in participating in the consultation process as soon as possible and no later than August 25, 2009. Please include your name, organization, area of interest, and contact info, and send via one of the following:

OECD / REWSU 
Foreign Affairs and International Trade Canada
International Trade Portfolio and Strategic Analysis Division (BPA)
125 Sussex Drive Ottawa, ON K1A 0G2
Fax: 613-944-1574
Email: rewsu-asere.bpa@international.gc.ca