Featuring 120 turbines, the offshore wind farm is expected to meet electricity demand in the region as well as support the climate change strategies for both the US and Canadian governments.
Power generated from the wind farm will be exported to New England, US, through a proposed 200-nautical-mile subsea cable, known as the Can-Am Link.
The firm has partnered with Jacob Capital Management, Siemens Offshore Wind, Talon Energy and Maderra Engineering for the development of the Scotia – New England export project.
According to the US Department of Energy estimates, the offshore wind energy is expected to create $100bn in revenues over the next three decades.
Beothuk president and CEO Kirby mercer said: "Our announced projects are the first part of a greater Atlantic Canada regional plan that we have formulated for offshore wind power in the area.
"We are creating a new energy sector in the Atlantic provinces that will have an immense beneficial socio-economic effect with thousands of new, highly skilled jobs.
"This project will also support the Trudeau Government’s Climate Change Program, the UN Paris Accord, and the Nova Scotia government’s Marine Renewable Energy Strategy."
Nova Scotia is expected to benefit from manufacturing components for the project including gravity based structure construction and establishment of a service/supply port.
Beothuk is currently negotiating with Canadian and American utilities and independent power producers for potential power purchase agreements and partnerships for the proposed project.
Image: US Energy Department estimates the offshore wind energy to create $100bn in revenues over the next three decades. Photo: courtesy of xedos4/FreeDigitalPhotos.net.
