We follow high standards of editorial integrity on this website to help you make informed decisions. This article may include links to services and products from our partners. We may receive compensation when you sign up, at no cost to you. It does not change our unbiased reviews, evaluations or advice. Please take a look at our disclosure.

Ottawa gives Newfoundland and Labrador more control over offshore wind power projects

SHARE:

Daily news image from my rate compass
Reading Time: < 1 minute

OTTAWA — Canada and Newfoundland and Labrador signed an agreement today giving the eastern province full regulatory control over renewable energy projects in its inland bays.

Federal Natural Resources Minister Jonathan Wilkinson says the deal will allow the province to regulate wind projects in those areas as if they were onshore developments.

He says the deal is aimed at streamlining the approval process, particularly as opportunities arise from the province’s nascent wind-powered hydrogen sector.

Wilkinson told reporters in Ottawa the agreement lets Newfoundland and Labrador determine the pace and the scale of the industry, and reap all of its economic benefits.

Newfoundland and Labrador Premier Andrew Furey says the agreement is a necessary and important first step to kick-start an offshore wind industry in the blustery province.

The two governments jointly manage the province’s offshore oil sector through a federal-provincial regulatory board.

Larry Hughes, an engineering professor at Dalhousie University, says Quebec may be a “ready customer” for Newfoundland and Labrador’s offshore wind energy, though he cautioned that offshore wind is expensive to develop.

“Yes, it’s a grand idea. But there are hurdles when it comes down to it,” Hughes said in an interview.

Quebec is looking to get more electricity from renewable sources and is already in negotiations with Newfoundland and Labrador as a decades-old energy agreement between the two provinces is set to expire in 2041.

This report by The Canadian Press was first published Dec. 6, 2023.

The Canadian Press

Author Bio

User
The Canadian Press

The Canadian Press is Canada’s independent national news agency that informs Canadians, providing depth, breadth and perspective with regional, national and international news 24/7/365.

Offers

Credit Card Deals

Tangerine World Mastercard® Review
Apply for a Tangerine World Mastercard® by April 30, 2024 and earn an extra 10% back* (up to $100)
Ends Apr 30, 2024
Tangerine Money-Back Credit Card Review
Apply for a Tangerine Money-Back Credit Card by April 30, 2024 and earn an extra 10% back (up to $100)
Ends Apr 30, 2024
Simplii Financial™ Cash Back Visa* Card Review
For your first 4 months, enjoy 10% bonus cash back‡ at restaurants and bars up to $500 spend. Get 4% cash back after that.
Ends Feb 29, 2024
Neo Card Review
Get $25 cash back when you sign up for the Neo Credit Mastercard.
Neo CardTM (Secured) Review
$25 welcome bonus for new cardholders