The Provincial Government is moving forward with mirror legislation to the Government of Canada’s Canada-Newfoundland and Labrador Atlantic Accord Implementation Act, or Bill C-49, to allow for future offshore wind development.

The Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, yesterday outlined amendments to the Canada-Newfoundland and Labrador Atlantic Accord Implementation Newfoundland and Labrador Act for second reading in the House of Assembly.

The proposed legislative amendments will:

• Ensure the necessary measures are in place to support offshore renewable energy opportunities.
• Allow for a fiscal regime that provides the maximum economic returns to Newfoundland and Labrador.
• Rename the C-NLOPB as the Canada-Newfoundland and Labrador Offshore Energy Board and expand its mandate to become the lead regulatory body for offshore energy in the offshore area. This furthers joint-management of the offshore area and builds upon expertise the C-NLOPB has in managing offshore projects.
• Define the offshore area for offshore renewable energy that excludes areas within provincial jurisdiction, to ensure that the Provincial Government can move forward to regulate developments within provincial jurisdictional waters.
• Modernize provisions relating to the regulation of our offshore oil industry.

The Provincial Government is committed to supporting offshore renewable energy projects that have the potential to contribute towards the goal of net-zero emissions by 2050. Electrification and increasing opportunities to support decarbonization of the economy are essential to achieving these goals.

Newfoundland and Labrador’s offshore oil and gas sector is a major contributor to the provincial economy. The industry has made significant progress in positioning the oil and gas sector to meet the world’s energy needs during the energy transition, while taking steps to decrease the carbon intensity of the sector by participating in projects, initiatives and groups focused on decreasing carbon sector emissions. With high environmental, social, and corporate governance standards and performance, the Newfoundland and Labrador offshore is an important, reliable supplier during the energy transition.

Quote
“This legislation is a significant step in allowing our province to move forward with the development of our offshore renewable energy. These amendments will ensure joint management of offshore wind resources, recognize exclusive jurisdiction of waters lying between the jaws of the land and certain coastal waters and modernize provisions relating to the offshore oil industry. We will continue to work with stakeholders as we work towards future offshore wind development.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology

-30-

Learn more
Follow us on X @IET_GovNL

Follow us on Bluesky

Like Industry, Energy and Technology NL on Facebook