Canada invests $100 million in Nova Scotia offshore wind projects

The Canadian federal government has announced a $100 million investment to support the development of offshore wind energy in Nova Scotia. This funding aims to attract private investment for initiatives such as the Wind West project, which has an estimated first-phase cost of $60 billion and the potential to produce five gigawatts of electricity by 2033.

Specific allocations include $5 million for deploying buoys to measure wind speeds and ocean conditions, and $3 million for transmission modelling and marine surveys to assist in routing subsea cables to Quebec and Ontario. The data collected is intended to inform prospective investors ahead of a planned call for license bids in the winter of 2027.

In a separate regional development, the federal government and the four Atlantic provinces have committed $300 million over five years to renew the Atlantic Fisheries Fund. This renewal includes a new focus on market diversification to help seafood companies expand into international markets, such as the EU and Asia, to increase resilience against global trade disruptions.