Nov 21, 2013 - The Canadian government has invested CAD 180,000 (USD 172,000/EUR 128,000) in a study to assess the potential economic effect of the tidal energy segment in Atlantic Canada, the Atlantic Canada Opportunities Agency (OREA) said yesterday.
The study, to be led by the Offshore Energy Research Association (OERA), is seen to ensure that local governments are more informed on the wider impact of tidal energy projects on the ocean industry supply and service sector in Canada. The results of the assessment will also help reveal the economic potential of the regional and national tidal power sector at the International Conference on Ocean Energy (ICOE) in Halifax in November 2014.
The gathered data “is required in order to attract the level of investment necessary to support activities that will move the industry forward,” OREA’s executive director Stephen Dempsey said. According to estimates, tidal energy could fetch billions of dollars in future economic value to Canada.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.