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OpenHydro - Bay of Fundy
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arine renewable energy is largely an untapped resource that has the potential to provide new energy, economic, and environmental benefits for Canada. Harnessing the power of the tides, waves, and rivers 4
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can provide a clean, sustainable fuel source, contribute to a diversified energy mix and energy security, and spur industrial growth by capitalizing on capabilities already present in other sectors. While the Canadian sector is in its early stages, natural
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advantages, investments, and activities to date have established a strong foundation that can be built upon. As a country rich in energy resources, perhaps the most compelling benefit of marine
renewable energy for Canada is the potential economic benefits of offering new solutions, services, and technologies internationally. The challenges the global industry faces are the same challenges the Canadian industry faces. Solving w w w. m a r i n e r e n e w a b l e s . c a
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M A R I N E R E N E WA B L E S C A N A D A them here means finding solutions for the world. The emerging market is significant, with the International Energy Agency’s Ocean Energy Systems estimating that there is the potential to develop 748 GW of ocean energy by 2050, resulting in 160,000 direct jobs by 2030. Canada’s Marine Renewable Energy Technology Roadmap established in 2011 also recognizes this as a substantial market, targeting Canadian involvement in 50% of world projects and estimating $2 billion in annual economic value by 2030, assuming Canada can establish and maintain a leadership role. Canada is well positioned to tap into this emerging market due to its natural advantage in marine renewable resources, capabilities in marine, offshore, and energy industries and its early leadership in the sector. Worldwide interest in Canada has been growing and is evidenced by international companies seeking and investing in business opportunities associated with tidal energy development in the Bay of Fundy, major wave energy potential on the west coast, and river energy prospects
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throughout the country. Recognizing the opportunities presented by developing Canada’s waves, tides, and rivers, Marine Renewables Canada has worked to advance the development of the industry since 2004. As the national association dedicated to sector advancement, Marine Renewables Canada identifies and fosters collaborative opportunities, provides information and outreach, and represents the best interests of the sector. Our Vision A Canadian sustainable marine renewable energy sector, serving domestic and export power needs and providing projects, technologies and expertise in a global market. Our Mission & Objectives Marine Renewables Canada aligns industry, academia and government to ensure that Canada is a leader in providing marine renewable energy solutions to a world market. To accomplish this mission, our association works to: • Promote development of Canadian marine renewable energy w w w. m a r i n e r e n e w a b l e s . c a
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industry that will benefit generations of Canadians. • Foster communication and collaboration between members, industry, academia, government, and the public. 8
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• Create a focus on innovation opportunities that can result in technology, techniques and services for world markets. • Develop competitive intelligence and appropriate
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strategic relationships. • Provide education, outreach, engagement and an understanding of marine renewable energy activities and the economic, environmental, and social benefits they present. • Support members and industry by increasing exposure for Canadian companies in the world market and identifying business development opportunities. Marine Renewables Canada’s membership represents an alliance between industry, academia, and government. Members of the association have a broad range of strengths and expertise that can service both domestic and global project needs as the marine renewable energy industry grows. This alliance includes: • Over 70 members, including utilities, project and technology developers, supply and service companies, and researchers. • Engagement of universities and research organizations across the country, as well as local authorities and government. As Canada moves into the next phase of industry development, Marine Renewables Canada will bring together members to apply capabilities essential to industrial-scale development and foster collaboration on common challenges and critical innovations.
Company Information In 2001 BC Hydro pursued the feasibility of wave and tidal energy around Vancouver Island and the BC coast. Resource assessment were completed and early MOUs were signed with international wave energy device developers. A change in Provincial energy policy in 2003 resulted in the cancellation of demonstration project plans.
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Marine Renewables Canada 121 Bird Sanctuary Drive Nanaimo, BC V9R 6H1 www.marinerenewables.ca