Canada joins race for offshore wind

Bill C-49: An Act to amend the Canada-Newfoundland and Labrador Atlantic Accord Implementation Act and the Canada-Scotia Offshore Petroleum Resources Accord Implementation Act contains provisions that amend the regulation structure and appoints new bodies as regulators to oversee projects.

It also applies environmental and safety protections to the offshore renewables sector for the first time in line with those on oil and gas, but the main focus is to put in place legislation ready for an expected surge in wind projects.

“The offshore renewable energy sector presents a generational economic opportunity for Canada, with the global offshore wind market alone forecast to attract one trillion dollars in investment by 2040,” a statement says. “Canada, in partnership with Nova Scotia and Newfoundland and Labrador, is working to seize this unprecedented economic opportunity and create jobs for Atlantic Canadians.

“By harnessing the world-class wind resources in the Atlantic offshore, we are positioning Canada as the leading supplier of clean energy, including the clean hydrogen countries like Germany are looking to buy, while continuing to decarbonise our electricity grids here at home.”

“Bill C-49 enables Atlantic Canada to seize the generational economic opportunity presented by offshore renewable energy,” said minster of Energy and Natural Resources Jonathan Wilkinson. “It will strengthen the economy, enable the creation of thousands of jobs and attract billions in investments in Nova Scotia and Newfoundland and Labrador.

“These opportunities would not have been possible without the close collaboration of the Premiers of Newfoundland and Labrador and Nova Scotia, Andrew Furey and Tim Houston, and Atlantic Canada’s Members of Parliament, who fought and delivered for the people of Nova Scotia and Newfoundland and Labrador.”