Scaled Ocean Energy

Icon_ Ocean Energy

Scaled ocean energy has the potential to grow from $9 billion in value in 2019 to $100 billion in 2035.

While today Canada’s ocean economy is driven by traditional sources of energy, by 2035, it is expected to have significant investment in renewable energy and, more specifically, offshore wind supporting the production of hydrogen to drive clean marine transport. Canada has the wind and the water but will also require significant infrastructure investment for these large projects. There is growing international interest in what Canada has on offer for our energy future, with recent examples including the signing of the Canada-Germany Hydrogen Alliance in August 2022, as well as Canada’s Ocean Supercluster’s (OSC)signing of MOUs with the European Leaders in Blue Energy and Marine Renewables Canada

Ocean Opportunities

• Canada can capitalize on the greening and digitalization of the offshore industry

• Key technologies are required to support the development of Canada’s renewable ocean energy industries and reduce the costs of new developments, including environmental assessment, monitoring, and maintenance.

• New supply chains and infrastructure are needed to support the creation of market entry points for Canada to deliver new products to global markets.

Through Ambition 2035, Canada’s Ocean Supercluster is hosting focused roundtable discussions, convening key stakeholders, and helping build partnerships to deliver projects and solutions critical to Canada achieving its full potential in scaled ocean energy. Learn more about Ambition 2035 next steps here.

Projects

The OSC is advancing technology and innovation to help advance current opportunities for Canada in scaled ocean in energy and help ready industry for emerging opportunities through energy transition. The following are examples of OSC projects in this area:

Learn more about the OSC’s complete project portfolio here.