Beothuk Energy Inc. announces 1 GW offshore wind project in Nova Scotia

Beothuk Energy Inc., an Atlantic Canada based company has announced plans for a major offshore wind farm off the coast of Nova Scotia, Canada. The project is estimated to cost CAD4 billion (US$2.85 billion).

Beothuk is proposing to manufacture and install a 1 GW wind farm in shallow waters off the southwest coast. Power will be exported to New England via a proposed 200 nautical mile subsea cable, the Can-Am Link. This link will ensure traceability of the clean, green wind energy to the New England market. To develop this Nova Scotia - New England export project, Beothuk has partnered or has formed working relationships with leaders in finance, construction and the offshore wind industry which include Jacob Capital Management, Siemens Offshore Wind, Talon Energy and Maderra Engineering.

Beothuk will coordinate technology, economics, and environmental disciplines that will help contribute to a healthier green environment, while maximizing benefits for Nova Scotia and Atlantic Canada generally. The proposed site has world-class wind resources and will be located about twenty kilometers from shore in shallow waters of thirty meters or less. It will be outside of major shipping lanes and commercial fishing grounds.

The Can-Am Link will make landfall close to existing transmission facilities near Boston giving access to the New England transmission corridors. This offshore wind power will contribute to the region’s security of supply and benefit both the American and Canadian governments’ climate change strategies. Benefits to Nova Scotia include the manufacturing of various components for the offshore wind farm that consist of gravity based structure construction and establishment of a service/supply port.

Kirby Mercer, President and CEO of Beothuk stated,

“Our announced projects are the first part of a greater Atlantic Canada regional plan that we have formulated for offshore wind power in the area. We are creating a new energy sector in the Atlantic provinces that will have an immense beneficial socioeconomic effect with thousands of new, highly skilled jobs. This project will also support the Trudeau Government’s Climate Change Program, the UN Paris Accord, and the Nova Scotia government’s Marine Renewable Energy Strategy.”

Sasha Jacob, CEO of Jacob Capital Management, commented:

“As both Canada and the United States seek to meet their climate change goals, clean, renewable off-shore wind is going to play a major role in helping decrease reliance on fossil fuels,”