Canada’s Minister of Energy and Natural Resources, Jonathan Wilkinson, and Premier of Newfoundland and Labrador, Andrew Furey, have signed a Memorandum of Understanding (MoU) on offshore wind to enable Newfoundland and Labrador to take the regulatory lead on offshore wind projects within its inland bays.
The MoU is said to enable the development of offshore wind projects in Newfoundland that will power the province’s economy forward.
The agreement will allow the province to dictate the speed and pace of development in bays.
The MoU outlines the framework for Newfoundland and Labrador to administer land tenure and life-cycle regulation, including revenues for offshore renewable energy projects within provincial bays.
According to the Canadian Government, the agreement was made possible by Bill C-49, which establishes the legislative framework for offshore wind in the joint-management areas.
Land tenure and life-cycle regulation of existing offshore energy activity and offshore renewable energy projects located beyond the bays will be regulated by the Offshore Energy Regulator, according to the authorities set out under the Atlantic Accord Acts and as amended by Bill C-49.
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“Newfoundland and Labrador is rich in renewable energy resources that make us well positioned to meet our net-zero targets, mitigate the impacts of climate change and grow clean energy jobs and economic development. Our government will continue to ensure Newfoundlanders and Labradorians are the principal beneficiaries of our valuable resources,” said Andrew Furey , the Premier of Newfoundland and Labrador.
In Newfoundland and Labrador, the Canadian government awarded funding to a project using floating wind turbines to power oil and gas assets back in 2021, among several other selected projects that were deemed to help reduce greenhouse gas emissions from the province’s offshore oil and gas operations.
“This MOU between the governments of Canada and Newfoundland and Labrador marks an important step toward catalyzing an offshore wind industry in the province. With a Regional Assessment of offshore wind underway, green hydrogen facilities under development and now this MOU, Newfoundland is laying a strong foundation for a locally driven offshore wind sector,” said Elisa Obermann , Executive Director of Marine Renewables Canada.