Three key routes-to-market for Nova Scotia ‘s world-class offshore wind resource

August 30, 2022
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2 min read
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What would you do if you had potentially >100GW of the world’s most competitive offshore wind acreage, but didn’t need the electrons yourself?

This is the opportunity facing the Canadian province Nova Scotia.

Both in terms of wind speed and technical potential, Nova Scotia sits amongst the world’s most attractive offshore wind markets. Its potential remains untapped, largely due to the limited local electricity demand.

Nova Scotia offshore wind could power the US or hydrogen-hungry Europe

But now, several potential paths for developing this attractive resource are materializing, thanks to the increased maturity of the world markets for both renewable electricity and PtX (green hydrogen and ammonia). Green hydrogen and ammonia could be exported to the EU including for instance Germany, as shown by last week's news of the German-Canadian hydrogen alliance.

There are three key routes-to-market for Nova Scotia ’s GW-scale offshore wind:

  • Export of green hydrogen and related e-fuels
  • Electricity export to eastern United States
  • Attracting green energy-hungry heavy industry to set up shop in proximity to Nova Scotia’s immense, low-cost electricity source

Follow Aegir Insights on LinkedIn for more insights on offshore wind investment plays for Atlantic Canada in the coming weeks.

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 and a deeper analysis for potential routes-to-market for Nova Scotia.

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Contact

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CVR no.: 39104792

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