Government of Canada and Nova Scotia Moving Forward to Seize the Enormous Economic Opportunities of Offshore Wind

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Natural Resources Canada

Jan 31, 2025, 16:33 ET

OTTAWA, ON, Jan. 31, 2025 /CNW/ -The offshore renewable energy sector presents a generational economic opportunity for Canada as the global offshore wind market is forecasted to attract one trillion dollars in investment by 2040. With the longest coastlines in the world, world-class wind speeds and a highly skilled workforce, Atlantic Canada is well positioned to seize this unprecedented economic and job creation opportunity.

Today, the Government of Canada, in partnership with the Government of Nova Scotia, is pleased to announce the coming into force of legislation to enable the development of offshore renewable energy for the first time in Canada. This follows the passage of Bill C-49 and Nova Scotia's mirror legislation, Bill 471, which amended the federal and provincial versions of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act. This legislation will unlock the enormous potential of offshore renewable energy, increase Nova Scotia's prosperity, create thousands of jobs, attract billions in investment, help protect the environment and strengthen the economy.

With this legislation coming into force, both Canada and Nova Scotia are positioned to be a world-leading supplier of clean energy.

The Government of Canada will continue to work with the Governments of Nova Scotia and Newfoundland and Labrador to unlock the enormous potential of offshore renewable energy collaboratively and responsibly. While Nova Scotia has already adopted mirror legislation, Newfoundland and Labrador is expected to advance consideration of its legislation this year, which is required to bring its portion of Bill C-49 into force as we continue building on decades of successful joint management.

Today's announcement marks another leap forward in Canada's commitment to strengthen the economy, create jobs, fight climate change and be an energy superpower.

Quotes

"With the coming into force of Bill C-49 in Nova Scotia, Canada is positioned to seize the enormous economic opportunity offshore wind presents Atlantic Canadians. It will strengthen the economy, enable the creation of thousands of jobs and attract billions in investments. Today's announcement is another leap forward for Canada becomes the global supplier of choice for energy and clean technology."

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

"Offshore wind is a game changer for Nova Scotia. Now is the time to harness our powerful winds, transforming them into prosperity and new opportunities for our communities to thrive. Nova Scotians are ready to reap the rewards of offshore renewable energy — creating good-paying jobs and a stronger economy. Nova Scotia is ready to power the world with clean energy."

The Honourable Darren Fisher
Minister of Veterans Affairs and Associate Minister of National Defence

 "Offshore wind is a game changer for Nova Scotia. It could make our province a net exporter of clean energy. We're harnessing this powerful natural resource to create green jobs and other economic benefits for generations of Nova Scotians. With our legislation in place, we're gearing up for our first licence call this year, and we plan to offer licences for five gigawatts of offshore wind by 2030."

The Honourable Trevor Boudreau
Nova Scotia Minister of Energy

"The Canada-Nova Scotia Offshore Energy Regulator (CNSOER) has 35 years of technical and regulatory experience for offshore oil and gas activities, and we will continue to deliver regulatory excellence with our expanded mandate that includes offshore renewable energy. As the lead and lifecycle regulator of offshore energy, we require all operators to conduct offshore activities in a safe and environmentally responsible manner. The CNSOER recognizes the importance of meaningful engagement and will continue to work with Indigenous communities, fishers and other stakeholders to help us make informed regulatory decisions."

Christine Bonnell-Eisnor
CEO, Canada-Nova Scotia Offshore Energy Regulator

"The development of Nova Scotia's offshore wind resources presents an immense opportunity to grow the economy, provide clean energy and leverage the strengths of our local supply chain, built on decades of experience working in ocean industries. With this legislation now in force, the Governments of Canada and Nova Scotia have established the critical regulatory framework and certainty needed to attract investment and accelerate the growth of this promising sector."

Elisa Obermann
Executive Director, Marine Renewables Canada

Quick Facts

  • This legislation establishes a joint management regulatory framework for offshore renewable energy development.
  • Bill-49 includes amendments to the Canada-Nova Scotia Accord Act that:
    • establish the framework to develop offshore renewable energy;
    • change the Canada-Nova Scotia Offshore Petroleum Board's name to the Canada-Nova Scotia Offshore Energy Regulator (CNSOER);
    • expand the mandate of the CNSOER to include the regulation of offshore renewable energy projects;
    • improve alignment between the Accord Act and the Impact Assessment Act (IAA);
    • provide tools to support the Government of Canada's marine conservation agenda; and
    • modernize the land tenure regime for offshore petroleum development.

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Contacts: Natural Resources Canada, Media Relations, 343-292-6096, [email protected]; Joanna Sivasankaran, Director of Communications, Office of the Minister of Energy and Natural Resources, [email protected]

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