A new law enabling the development of offshore wind projects in Atlantic Canada has received Royal Assent from the Canadian government and is now in effect.
Bill C-49 expands the mandate of offshore boards in Nova Scotia and Newfoundland and Labrador to include renewable energy projects, ensuring a consistent regulatory regime in federal-provincial jointly managed areas.
“Bill C-49 enables Atlantic Canada to seize the generational economic opportunity presented by offshore renewable energy. It will strengthen the economy, enable the creation of thousands of jobs and attract billions in investments in Nova Scotia and Newfoundland and Labrador”, said Canada’s Minister of Energy and Natural Resources, Jonathan Wilkinson .
The law paves the way for offshore wind development in Nova Scotia and Newfoundland and Labrador. The two provinces are required to pass mirror legislation as part of the Atlantic Accord while Nova Scotia already did that.
The province stated its intention to launch competition next year for offshore land leases, hoping to put enough wind turbines in place to produce 5 GW of power – enough for roughly 1.5 million homes.
“Investors are lining up to harness our wind power and produce clean energy for green hydrogen and other uses. Now that this bill has passed, along with our own provincial mirror legislation, we are well on our way to developing our offshore wind industry hand in hand with our federal partners, starting with issuing our first call for bids next year”, said Tory Rushton , Minister of Natural Resources and Renewables, Government of Nova Scotia.
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.
Bill-49 introduces amendments to the Accord Acts that create a framework for developing offshore renewable energy.
It also renames the Canada-Nova Scotia Offshore Petroleum Board to the Canada-Nova Scotia Offshore Energy Regulatory (CNSOER) and the Canada-Newfoundland and Labrador Offshore Petroleum Board to the Canada-Newfoundland and Labrador Offshore Energy Regulator (C-NLOER).
In addition, the mandates of both regulators are expanded to oversee offshore renewable energy projects.
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