Nova Scotia, Canada is home to one of the largest and most accessible tidal energy resources globally in the Bay of Fundy. Nova Scotia has been focused on the development and success of this tidal resource for over a decade. Harnessing this resource and creating a new industry requires dedication and commitment to the industry. The government of Nova Scotia remains committed to developing the tidal industry and being an international leader by creating a regulatory pathway for this industry in Nova Scotia.
In Nova Scotia, the ocean is our competitive advantage and we envision making the most of this advantage. Nova Scotia is home to the highest number of ocean technology companies in North America. We have over 400 PhD’s in ocean related disciplines, equating to over 251 high qualified persons (HQP’s) for the tidal industry alone. Our local academic institutions are collaborating with others across Atlantic Canada through the Ocean Frontier Institute, and Acadia’s Tidal Energy Institute. The Centre for Ocean Ventures and Entrepreneurship (COVE) will offer a unique innovation centre for ocean industries and academics. Our industry leaders are currently developing an ocean supercluster to accelerate the growth of our ocean technology, companies, and expertise for the economic growth and benefit of Nova Scotia with potential funding awarded from the Canadian government. In Nova Scotia, we are doubling down on our strengths and securing our place as leaders in ocean technology and innovation. Marine renewable energy is an important part of our ocean advantage.
In 2012, the Province introduced its Marine Renewable Energy Strategy , which outlines a high-level plan to continue research, development, and regulatory efforts to get the most out of this resource. Specifically, the Strategy articulates a phased and adaptive approach to reaching commercialization of the marine renewable energy sector.
Nova Scotia, along with federal and private sector investments have developed the Fundy Ocean Research Centre for Energy (‘FORCE’)—Canada’s leading test centre for in-stream tidal energy— where 5 berth holders are able to demonstrate technology and answer challenges of an emerging industry. Nova Scotia has also awarded three Community Feed-in-tariffs for small-scale community development of tidal technology.
Nova Scotia is now preparing for the next phase of marine renewable energy for up to 50 MW within the Bay of Fundy over the next five years. The Province has recently amended and passed its Marine Renewable-energy Act . This sectorspecific legislation was developed in advance of commercialscale deployments to ensure the safe, sustainable, and responsible growth of the industry that both respects and benefits Nova Scotians. Recent amendments to the Act include a demonstration permit. The permits will allow projects up to five megawatts in size, and give companies the ability to sell the electricity they generate. A total of 10 megawatts will be available through this permit and developers will be provided with a guaranteed power purchase agreement for 15 years. This will make it easier for developers to assess innovative, lower-cost tidal energy technologies and bring them to market faster. Our work is laying a road for success developing the technology to produce environmentally sustainable and competitively-priced electricity from the ocean.
The next phase of marine renewable energy development will focus on achieving the goals in our Strategy, and building upon them. These goals include reducing the cost of energy to ensure tidal is competitive with other sources of renewable energy, continue to collaborate and build partnerships, supply chain capacity development, public education, research and continuing to seek and provide funding and investment opportunities. This presentation outlines the process the Province of Nova Scotia and its partners have undergone to support the development of the tidal industry and create regulatory certainty for the growing in-stream tidal energy industry.