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Canada

Canada

Offshore could add up to C$5.5 billion to Ontario economy

CANADA: The development of offshore wind energy in Ontario would add between C$4.8 billion and C$5.5 billion to the province's economy during the 2013 to 2026 time frame, according to a report by the Conference Board of Canada.

The board, a leading non-profit and non-partisan think-tank in Canada, said the installation of 2GW of capacity on the Ontario side of the Great Lakes over the next 15 years would also create up to 62,000 person-years of employment and introduce new service industries in the sector.

"The growth to 2GW over 15 years is a conservative estimate of the market potential that could be exceeded as cumulative experience reduces installation costs and grid integration options broaden," it said.

The initial study was financed by Vestas Offshore A/S, but the board said the conclusions are its own.

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