The governments of Canada and Newfoundland and Labrador have formalized a memorandum of understanding (MoU), granting the east coast province regulatory authority over offshore wind initiatives within its inland bays.
Signed last week, the MoU outlines the framework that allows Newfoundland and Labrador to manage land tenure, life-cycle regulation, and revenues for renewable energy projects within provincial bays. The agreement positions the province to take the lead in regulating the development pace of offshore wind projects in these areas.
Jonathan Wilkinson, Minister of Energy and Natural Resources, underscored the significance of the agreement in advancing the province's renewable energy goals. He stated, “Today's agreement with the province furthers our ability to attract investments and create good-paying jobs in Newfoundland's offshore by establishing a framework to enable the province to move ahead with its ambitious renewable energy development plans.”
Elisa Obermann, Executive Director at Marine Renewables Canada, highlighted the MoU as a pivotal step towards catalyzing the emergence of an offshore wind industry in Newfoundland. She remarked, “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.”
The signing of the MoU marks a collaborative effort between federal and provincial authorities, fostering an environment conducive to the growth of renewable energy projects. As Newfoundland and Labrador solidifies its position as a key player in the offshore wind sector, this agreement is expected to play a crucial role in shaping the future landscape of sustainable energy development in the region.
