Assessing the Economic Impacts of Developing the Port of Sheet Harbour Into an Offshore Wind Hub

Currently, multiple OSW projects off the Northeast US are under development. The OSW capacity in the US is forecast to grow significantly in the next decade with approximately 11 GW already contracted to be installed over the next years. This trend in OSW capacity increase will grow the OSW supply chain in the US and has already positively affected opportunities for Canadian companies. With its proximity to the Northeast US, Nova Scotia and its existing hydrocarbon and renewables supply chains could benefit from OSW sector growth in the US. For example, in April 2020, Halifax Harbour was selected to stage the Dominion Energy Project, a two turbine 12 MW OSW project off the Virginia coast. This activity involved multiple Nova Scotian companies and supported the local economy.

An important asset to the OSW industry is a viable port that meets strict industry standards and is positioned in a geographically favourable location. Sheet Harbour, located along the Eastern Shore of Nova Scotia, has the unique opportunity to use its port’s competitive advantage and become an integral part of the US OSW supply chain. Using the port of Sheet Harbour to act as one of the logistical hubs for the US OSW industry would likely have beneficial implications for Nova Scotian businesses that are able to provide services to the OSW industry. It is important for the Province to understand the extent of the potential economic benefits that such a development would create.

Waterford Energy Services Inc. (WESI) will deliver a report that identifies the opportunities for Nova Scotian companies and quantifies the economic impacts of using the port of Sheet Harbour as a logistical hub for the US OSW industry.