The Government of Canada has announced over $10 million in federal funding to advance tidal energy research in the Bay of Fundy. Through Natural Resources Canada’s Energy Innovation Program, the Fundy Ocean Research Centre for Energy (FORCE) and Acadia University will lead projects focused on environmental monitoring and reducing uncertainty around fish-turbine interactions in the Minas Passage. The initiatives aim to strengthen scientific understanding, support responsible tidal energy development, and build confidence among regulators, investors, and communities as Canada works to unlock the Bay of Fundy’s vast renewable energy potential.
The report brings together the most up-to-date information on the potential environmental effects of marine renewable energy development, shares helpful resources, and identifies a path forward to advance the marine renewable energy industry in a responsible manner. This report is a culmination of OES-Environmental Phase 4, a four-year effort spanning 2020-2024. OES-Environmental is an international initiative dedicated to understanding the environmental effects of marine renewable energy that includes representation from 16 nations. The 2024 report builds upon the 2020 State of the Science Report, the 2016 State of the Science Report, and the 2013 Final Report for Phase 1 of OES-Environmental.
The wave and tidal energy market is forecasted to grow by USD 1.25 billion during 2023-2028, accelerating at a CAGR of 27.47% during the forecast period. The report on the wave and tidal energy market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
In a significant step to support the growth of the UK’s tidal energy industry, north Wales tidal scheme Morlais has partnered with The Crown Estate to provide access to environmental survey data gathered off the coast of Ynys Môn (Anglesey).
