Nova Scotia announces offshore wind target of 5 GW, creating opportunities for green hydrogen production or power export to USA

September 21, 2022
 | 
1 min read
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Yesterday, Nova Scotia announced auctions for 5 GW offshore wind beginning in 2025.

The Canadian province Nova Scotia has been on Aegir Insights’ radar for some time as home of one of the world’s greatest accessible offshore wind resources. We see a triad of potential routes to market:

  1. Green hydrogen/ammonia: The global market for green hydrogen and e-fuels is opening up. Nova Scotia could secure an early position. Already dialogue with the EU has commenced, an alliance has been formed with Germany and an MOU signed with the Netherlands, all aiming at facilitating export of green hydrogen products from Canada.
  2. Electricity export to the US: Send electrons to the US East Coast, where high targets for green energy may be hard to meet with only domestic resources. This could be a win-win collaboration with the emerging US supply chain, bringing major job opportunities both north and south of the border.
  3. Use the resource to attract new industries: Attract green energy consuming heavy industry to set up shop adjacent to Nova Scotia’s immense, low-cost electricity source.

Aegir Insights' Atlantic Canada Market Report is part of our ongoing Americas coverage and explores the competitive opportunity of Nova Scotia’s offshore wind resources.

If you want more information, please reach out to us here.

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Aegir Insights provides industry-leading intelligence powered by data science for offshore wind energy developers, governments and financial institutions.

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Aegir Insights
Havnegade 27,
1058 Copenhagen,
Denmark


Contact

info@aegirinsights.com
CVR no.: 39104792

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