MIL OSI Translation. Canadian French to English –
Source: Government of Canada – in French 1
Press release
October 3, 2024 Ottawa, Ontario Natural Resources Canada
The offshore renewable energy sector offers exceptional economic opportunities for Canada, with the offshore wind market alone expected to attract $1 trillion in investment by 2040. Canada is working in partnership with Nova Scotia and Newfoundland and Labrador to seize these unprecedented economic opportunities and create jobs in Atlantic Canada.
Bill C-49, An Act to amend the Canada–Newfoundland and Labrador Atlantic Accord Implementation Act and the Canada–Nova Scotia Offshore Petroleum Resources Accord Implementation Act, received Royal Assent today. Developed in collaboration with the governments of Nova Scotia and Newfoundland and Labrador, this legislation will help unlock the enormous potential of offshore renewable energy to create thousands of jobs, while attracting billions of dollars in investment and opening new economic opportunities in Nova Scotia and Newfoundland and Labrador.
By harnessing the extraordinary wind resources found off the Atlantic coast, Canada will be able to establish itself as a leading supplier of clean energy, including clean hydrogen that countries like Germany are looking to purchase, while continuing to decarbonize its electricity grids. This legislation will help advance the priorities established through the regional energy and resource tables. Nova Scotia and Newfoundland and Labrador, particularly to seize the opportunities presented by clean energy.
The Government of Canada is working with the governments of Nova Scotia and Newfoundland and Labrador to develop offshore renewable energy resources, enabling the provinces to build on their strengths and accelerate the growth of the offshore wind sector in a responsible and safe manner. Nova Scotia has already passed similar legislation; Newfoundland and Labrador is expected to follow suit in the coming weeks.
Canadian businesses and workers are well positioned to take advantage of the immense economic opportunity that clean energy represents in Atlantic Canada and beyond. This new legislation underscores Canada’s commitment to ensuring prosperity, unlocking new opportunities in the clean energy sector, growing the economy, creating thousands of jobs, and strengthening environmental protection in Canada.
Quotes
“The adoption of the bill C-49“This legislation allows Atlantic Canada to take advantage of the unprecedented economic opportunities presented by offshore renewable energy. This new legislation will strengthen the economy, create thousands of jobs and attract billions of dollars in investment to Nova Scotia and Newfoundland and Labrador. None of this would have been possible without the close collaboration of Newfoundland and Labrador and Nova Scotia Premiers Andrew Furey and Tim Houston and Atlantic Canadian Parliamentarians, who advocated for this project and stood up for the interests of the citizens of both provinces.”
The Honourable Jonathan WilkinsonMinister of Energy and Natural Resources
“This new legislation will play an important role in achieving Nova Scotia’s offshore wind goals. There are many investors interested in harnessing our wind energy and producing clean energy for green hydrogen and other uses. With Bill C-49 now passed, along with our similar provincial legislation, we are well positioned to grow our offshore wind sector in collaboration with our federal partners, starting with our first call for proposals next year.”
The Honourable Tory Rushton, Minister of Natural Resources and Renewable Energy for Nova Scotia
“This new legislation ensures that the necessary measures are in place to unlock opportunities in the offshore renewable energy sector; provides a financial regime that will ensure maximum economic return to Newfoundland and Labrador; and facilitates joint management of the offshore area while leveraging the Canada-Newfoundland and Labrador Offshore Petroleum Board’s extensive expertise in managing offshore projects.”
The Honourable Andrew Parsons, Minister of Industry, Energy and Technology for Newfoundland and Labrador
“It was an honour to sponsor a bill of such economic and environmental importance to my province. I look forward to seeing the positive impact of this new legislation, which opens up unprecedented opportunities for Newfoundland and Labrador, Nova Scotia and all of Canada.”
The Honourable Iris G. PettenSenator, Newfoundland and Labrador
Quick Facts
This law establishes a common regulatory and management framework for the exploitation of offshore renewable energy.
The adoption of Bill C-49 amends the laws implementing the agreements. The new law:
provides a framework for the development of offshore renewable energy; changes the name of the Canada–Nova Scotia Offshore Petroleum Board to the Canada–Nova Scotia Offshore Energy Regulator; changes the name of the Canada–Newfoundland and Labrador Offshore Petroleum Board to the Canada–Newfoundland and Labrador Offshore Energy Regulator; expands the mandates of both bodies to include the regulation of offshore renewable energy projects; better aligns the implementing legislation with the Impact Assessment Act; provides tools to support the Government of Canada’s marine conservation agenda; and modernizes the land tenure provisions of the agreement implementing legislation as they relate to offshore petroleum development.
Related links
Contact persons
Natural Resources CanadaMedia Relations343-292-6100media@nrcan-rncan.gc.ca
Cindy CaturaoPress SecretaryOffice of the Minister of Energy and Natural Resources613-795-5638cindy.caturao@nrcan-rncan.gc.ca
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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.