Post by
BayWall on Mar 25, 2024 10:57am
Slow rolling
One day before the annual meeting. How it's all going to work out is unclear.
Who will be first? We hear of the Hecate project as "flagship" offshore wind development. And on the other side of the country with another project and company: "Pioneer" Canadian offshore wind farm announced in Halifax.
Offshore is expensive.The Nova Scotia project needs to earn $100/mwh. (Onshore wind only $53/mwh)
Still unclear what direction Oceanic is taking. I have posted scenarios of LNG, green hydrogen/ammonia, green fertilizer projects to reduce nitrous oxide emissions. I think the company is leaning towards green hydrogen. LNG would require reliable BC Hydro power 24 hours a day.
Also the Power Call max project size is 200MW. Green hydrogen needs at least 1000MW per project. Power from wind has to be sold through BC Hydro, but can a private deal be done or is electricity combined with hydro on the grid?
Other issues seek resolution. Maybe compensation for fishermen displaced by wind farms being discussed.
Over the years many proposals have been discussed for for offshore. But in the end, as 4C Offshore puts it: Canada has 35 offshore wind farm projects of which none currently operating, none where construction has progressed enough to connect the turbines and generate electricity, none are in the build phase, and none are either consented or have applied for consent.
Canada has 35 offshore wind farm projects of which none currently operating, none where construction has progressed enough to connect the turbines and generate electricity, none are in the build phase, and none are either consented or have applied for consent.