NEIA sees opportunity for local firms in offshore wind energy industry

For Immediate Release
February 7, 2018

The Newfoundland and Labrador Environmental Industry Association (NEIA) is encouraging firms in the province to consider the offshore wind energy industry as an avenue for business growth.

“It is expected that global offshore wind energy capacity is to grow by over 650% by 2030,” said Kieran Hanley, NEIA’s Executive Director. “This means expanding supply chains and many billions of dollars worth of investment – representing a real opportunity for our firms.”

Hanley’s comments come following an offshore wind energy workshop in St. John’s that NEIA organized with Marine Renewables Canada. “Part of the workshop yesterday focused on the supply chain in offshore wind, and we were struck by how similar it looked to what we are already familiar with here in Newfoundland and Labrador.” Hanley says that the province’s demonstrated expertise providing ocean technologies and services in the offshore oil and gas sector positions local firms well to explore opportunities worldwide in wind.

“It is clear, given the rapid expansion of this industry worldwide, that there are opportunities for our local firms to diversify their activities and the markets in which they are engaged.” Hanley says that NEIA will be working to help firms in the province identify and pursue those opportunities.

“… it is important and prudent to have an open and informed discussion on the possibilities for wind energy development off the shores of our province.”

– Kieran Hanley, NEIA’s Executive Director

The workshop also focused on the prospect of offshore wind energy development in Newfoundland and Labrador, possible export markets, and current Federal supports available to help foster the emergence of the industry.

“Natural Resources Canada has an enormous funding program call open right now that would apply to offshore wind energy developments,” said Hanley. “Considering the economic development potential associated with a large industry like this one, it is important and prudent to have an open and informed discussion on the possibilities for wind energy development off the shores of our province.”

Hanley said there are benefits to being a first-mover in the region. “If we can build expertise here in Newfoundland and Labrador, that is something we can export for years to come as the industry grows in North America.”

“There are challenges to offshore wind development in our province – but given the opportunity before us, let’s take a look at what we might be able to do together to address those challenges.”

NEIA is a not-for-profit association of businesses that promotes the development of clean technology and the growth of the green economy in Newfoundland and Labrador. NEIA has over 200 members. More information can be found at https://neia.org.

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Media Contact
Kieran Hanley – kieran@neia.org