Nova Scotia Utility and Review Board (UARB) yesterday approved new feed-in tariff rates for large scale tidal energy projects.
“The decision is an important milestone in developing our tidal energy industry in Nova Scotia,” said Energy Minister Andrew Younger . “The rates will give the tidal industry clarity on the established price per kilowatt for tidal energy production.”
An application system will soon be put in place to give clear direction on how to apply for a feed-in tariff, which is an established price per kilowatt hour developers will receive. The province plans to approve 15-20 MW of tidal energy at the rate set by the board.
“This is great news: Nova Scotia is now officially a tidal energy market,” said FORCE executive director Doug Keefe . “Combining its resource, infrastructure, science and tech sectors with a clear price structure, Nova Scotia can be a world player in the marine renewable industry.”
“We are taking a balanced approach to encourage the development of a new energy sector while ensuring minimum impact on electricity costs,” said Mr. Younger . “I’ve already spoken with energy developers from the U.K. and others who are interested in working with us collaboratively to develop the industry.”
The province will close the request for proposals for the vacant berth at the Fundy Ocean Research Center for Energy (FORCE) on December 16.
Establishing a feed-in tariff rate fulfills one of the commitments in the 2012 Marine Renewable Energy Strategy, which outlines how the province, universities and industry plan to work together on research, development and regulation to guide tidal development in the province.
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Press release, November 14, 2013; Image: nrcan