Legislation enabling the development of offshore renewable energy in Canada has received Royal Assent, marking a significant step toward accelerating offshore wind projects in Nova Scotia and Newfoundland and Labrador. Bill C-49, crafted in collaboration with both provinces, is designed to harness the potential of the offshore wind sector, which the Canadian government predicts will attract one trillion dollars in global investment by 2040.
The measures outlined in the bill are expected to create thousands of jobs and attract billions in investment, bolstering economic opportunities in the Atlantic provinces. The initiative is seen as a key component of Canada's broader clean energy strategy, aligning with the priorities set by the Regional Energy and Resource Tables for both provinces.
Jonathan Wilkinson, Minister of Energy and Natural Resources, emphasized the long-term benefits of the legislation, stating, “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.”
Nova Scotia has already passed mirror legislation, with Newfoundland and Labrador expected to do the same in the coming weeks. Wilkinson credited the collaboration of provincial leaders, adding, “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.”
