Premier Iain Rankin announced today, July 10, a Request for Proposals (RFP) will be issued to attract low-cost and innovative solutions to supply 10 per cent of the province’s electricity from renewables, such as wind and solar.
This will create 4,000 jobs, mostly in rural Nova Scotia, and generate more than $550 million in construction activity in wind-rich areas, such as Guysborough, Pictou, Antigonish, Hants, Cumberland, and Colchester counties.
Once these projects are operational, they will also reduce Nova Scotia’s greenhouse gas emissions by more than 1 million tonnes each year as the RFP seeks 350 megawatts of electricity from renewables.
“This is about doing what's right for ratepayers and keeping electricity affordable,” said Premier Rankin. “It also ensures we mitigate risks for ratepayers and establish an energy sector that attracts business.”
Wind is now the cheapest source of electrical energy in Canada.
The premier also announced an aggressive, new renewable electricity standard, requiring 80 per cent of Nova Scotia’s electricity to come from renewable resources by 2030.
This call for proposals will help the province get closer to the 80 per cent target and support the province’s goal of achieving a 53 per cent reduction in greenhouse gas emissions by 2030 and net-zero by 2050.
The requests for proposals are being administered by CustomerFirst Renewables. Other RFPs will be issued at a future date to meet the needs of our renewable energy ambitions.
The province is in negotiations with the Canada Infrastructure Bank to collaborate on innovative and competitive financing arrangements for bidders.
“An agreement with the Canada Infrastructure Bank can help jump start new renewable energy projects in Nova Scotia while bolstering our leadership on climate change and keeping rates affordable for Nova Scotians,” said Derek Mombourquette, Minister of Education and Early Childhood Development, on behalf of Energy and Mines Minister Chuck Porter.
These accelerated targets will need a mix of solutions from electrification, decarbonizing and energy management, and require a range of technology solutions from generation, storage and next generation materials, and we are excited to be working with companies from across Canada to address this here in Nova Scotia.
Beth Mason, president and CEO, Verschuren Centre for Sustainability in Energy and the Environment
CanREA very much welcomes Nova Scotia’s new commitment to having renewable energy power 80 per cent of its electricity grid by 2030. The province is demonstrating great leadership by accelerating the decarbonization process and we are confident that renewables will enable them to reach their goals sooner. We are looking forward to supporting this transition,
Brandy Giannetta, vice-president of policy, regulatory and government affairs, Canadian Renewable Energy Association
- renewable electricity standards are a regulatory tool used throughout the world to accelerate the use of renewable energy.
- the RFP results are expected to get the province to 70 per cent of renewable electricity, with the remaining 10 per cent of the target to be reached by 2030.
- the revised standard means a 40 per cent increase over current levels of renewables used in the electricity system in Nova Scotia. The changes are authorized under the Electricity Act.
Information on renewable energy in Nova Scotia: https://energy.novascotia.ca/renewables
Canada Infrastructure Bank: https://cib-bic.ca/en/
CustomerFirst Renewables: https://novascotiarbp.com