Canada and Newfoundland and Labrador Move to Unlock Economic Potential of Offshore Wind
ST. JOHN'S, NL, June 2, 2025 /CNW/ - The offshore renewable energy sector offers Canada a once-in-a-generation economic opportunity, with the global offshore wind market expected to draw $1 trillion in investments by 2040. Boasting the world's longest coastlines, exceptional wind resources and a highly skilled labour pool, Atlantic Canada is ideally situated to capitalize on this extraordinary opportunity for economic growth and job creation.
Today, the Government of Canada, in partnership with the Government of Newfoundland and Labrador, is pleased to announce the coming into force of legislation to enable the development of offshore renewable energy in Newfoundland and Labrador. This follows the passage of the federal Bill C-49 in October 2024 and Newfoundland and Labrador's mirror legislation, Bill 90, in March 2025.
The Government of Canada is committed to its strong history of joint management with the Governments of Newfoundland and Labrador and Nova Scotia and will work together with them to unlock the enormous potential of offshore renewable energy collaboratively and responsibly.
This is part of the federal government's plan to make Canada an energy superpower and build the strongest economy in the G7.
Quotes
"This powerful legislation will boost the already-strong role Newfoundland and Labrador plays in Canadian energy and delivers on our promise of harnessing the power of clean energy to open and diversify trading markets, create jobs and make Canada an energy superpower."
The Honourable Tim HodgsonMinister of Energy and Natural Resources
"The Government of Canada recognizes the important role Canada's vast ocean resources play in driving long-term economic growth and strengthening our future. This legislation unlocks significant opportunities for Newfoundland and Labrador, strengthening the province's position as a leader in clean energy, enhancing our energy sovereignty and creating more high-quality, sustainable jobs."
The Honourable Joanne ThompsonMinister of Fisheries
"This legislation is a significant step forward in allowing our province to move forward with the development of our province's offshore renewable energy as well as modernizing provisions relating to the offshore oil and gas industry."
The Honourable Steve CrockerNewfoundland Minister of Industry, Energy and Technology
"Offshore Newfoundland and Labrador has an abundance of energy, including lower-carbon oil, and significant potential for offshore wind development. Establishing joint management for offshore wind and modifying the land tenure system for offshore oil and gas development are positive steps forward as we address energy security and undertake nation-building projects."
Charlene JohnsonCEO, Energy NL
"The transition to the Canada-Newfoundland and Labrador Offshore Energy Regulator marks an exciting new chapter for our organization, and we look forward to the important work that is to be done."
Scott TessierCEO, Canada-Newfoundland and Labrador Offshore Energy Regulator
"The implementation of this legislation marks a pivotal step forward in unlocking the immense offshore wind potential off Newfoundland and Labrador's coast. It provides the regulatory clarity and collaboration needed to advance clean energy development, attract international investment and create sustainable jobs. With decades of expertise in ocean industries and a growing marine renewable energy supply chain, Atlantic Canada is well positioned to lead the way in building a thriving offshore wind sector that benefits local communities and contributes to Canada's emissions targets."
Elisa ObermannExecutive Director, Marine Renewables Canada
Quick Facts
This legislation establishes a joint management regulatory framework for offshore renewable energy development.
Bill C-49 includes amendments to the Canada–Newfoundland and Labrador Atlantic Accord Implementation Act (Atlantic Accord Act) that:
establish the framework to develop offshore renewable energy;
change the Canada-Newfoundland and Labrador Offshore Petroleum Board's name to the Canada-Newfoundland and Labrador Offshore Energy Regulator (C-NLOER);
expand the mandate of the C-NLOER to include the regulation of offshore renewable energy projects;
improve alignment between the Atlantic Accord Act and the Impact Assessment Act (IAA);
provide tools to support the Government of Canada's marine conservation agenda; and
modernize the land tenure regime for offshore petroleum development.
Associated Links
Powering Canada Forward: Building a Clean, Affordable, and Reliable Electricity System for Every Region of Canada
Government of Canada Nova Scotia Moving Forward to Seize the Enormous Economic Opportunities of Offshore Wind
Government of Canada Passes Legislation to Seize the Enormous Economic Opportunity Offshore Wind Presents for Nova Scotia and Newfoundland and Labrador
Building Offshore Renewables in Newfoundland and Labrador and Nova Scotia
Governments of Canada and Newfoundland and Labrador launch regional assessment to support future decisions on offshore wind projects in the province
Governments of Canada and Nova Scotia launch regional assessment to support future decisions on offshore wind projects in the province
The Offshore Renewable Energy Regulations Initiative
Canada Offshore Renewable Energy Regulations
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SOURCE Natural Resources Canada
View original content: http://www.newswire.ca/en/releases/archive/June2025/02/c4343.html
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