Cape Breton is the energy hub for Nova Scotia, producing more than 80% of Nova Scotia’s electricity at coal generating power plants, a variety of wind farms and a hydro-electric facility at Wreck Cove. Cape Breton also has all that is required for a successful and developing alternative/renewable energy sector including an excellent wind regime, fast flowing tides, an abundance of land for biomass, and an abundance of coal for geothermal and methane applications. The Maritime Link is a new 500 MW, +/-200 to 250kV high voltage direct current (HVDC) transmission system that will span from Newfoundland to Cape Breton through an undersea connection.
Companies interested in business development or expansion can take advantage of Nova Scotia’s competitive utility costs.
While Cape Breton has a vast amount of existing energy infrastructure, the island also provides unique opportunities for global companies to take advantage of the many renewable and/or alternative energy sources available. Companies may want to develop other opportunities to meet their energy needs which could include exploring:
- their ability to leverage the new hydro-electric energy corridor;
- the vast tracks of land available for biomass growth and bioenergy production;
- the island’s favourable wind regime;
- the fast flowing waters for tidal energy;
- the potential for geothermal or coal bed methane energy from the island’s immense coal mining sites; and
- the oil and natural gas resources available in the region.
Nova Scotia’s Renewable Electricity Plan sets out a detailed path for achieving the target 25% renewable electricity supply by 2012 and establishes an ambitious goal for 2020 to have 40% of Nova Scotia’s electricity supply (sales) produced from renewable sources. Nova Scotia is also guided by its Environmental Goals and Sustainable Prosperity Act, which puts into action 21 goals to be achieved by 2020.