Nova Scotia has a world-class wind resource, and some of the highest average wind speeds in Canada. As the industry has grown in the last decade, the cost of wind power has decreased. The cost of wind-generated electricity is already competitive with many other power sources, and as more turbines are installed, the cost of generating electricity from wind power will remain steady for decades.
The business case for wind energy development in Nova Scotia has never been better. Legislation and the provincial government’s Renewable Energy Plan are driving growth in the sector and will continue to do so for the foreseeable future. The Renewable Electricity Plan has made it a legal requirement that 25 percent of Nova Scotia’s electricity come from renewable sources by 2015 and has set an additional goal to increase the share of renewable energy in our electricity to 40 per cent by 2020. Visit the Nova Scotia Department of Energy for details.
Nova Scotia’s current energy mix consists of 83 per cent non-renewable energy, thus a large amount of renewable generation capacity needs to be created between now and 2020. To meet the 2015 target, wind projects are expected to require about $1.5 billion in non-governmental renewable electricity investment around the province. This rapidly growing sector provides a great opportunity for Chebucto and its shareholders.
Learn More about Chebucto Wind Field’s Current Projects.
1) Chebucto Terence Bay