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Nova Innovation an energy firm based out of Edinburgh has announced that it has received a license to set up a tidal array in Canada. The company has stated that the project will result in the installation of 15 new turbines in the Bay of Fundy in Nova Scotia by 2023.
The project is set to provide adequate electricity to power the needs of around 600 homes. The company had made an announcement in 2016, saying that its offshore tidal array located at Bluemull Sound near Shetland, was the first to provide electricity to the grid.
Some of the components that are to be used for the Canadian project will be manufactured at an Edinburgh facility. However, all of the engineering activity required for the turbine rotors and the seabed platform are likely to be carried out in Canada.
Simon Forrest, the chief executive for Nova Innovation has stated: “In the face of the climate emergency, we are on a mission to transform the power of the oceans across the world into clean, predicable energy. At five times the size of our array in Shetland, which is the first of its kind in the world, this project is a massive step forward for Nova Innovation and the sector – propelling Nova Scotia to a leading position in tidal energy.”
Move to Help Scottish Businesses to Invest and Sell Overseas
Scottish companies have been leading the renewable energy space, and are often used by foreign companies who display interest in developments. However, until now Scottish firms have seldom invested or sold abroad.
The license to Nova Innovation is a major positive step in this direction. However, there are two conditions: The heavy welding work for the project will be carried out in Canada. So, Scotland is unlikely to gain any economic benefit. In addition, the provincial government of Nova Scotia has decided to set a floor price for the power generated through the project. The move will allow the Halifax government to build a supply chain in this sector, essentially allowing it to take the lead in the field.