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The Province of BC has been recognized for it’s leading CleanBC policy objectives, and studies clearly indicate the urgent need to electrify industry, transportation, housing, etc, to meet these objectives. Meeting the Clean BC Policy objectives suggest an annual supply deficit much greater than 3000 Gwh/yr.
As BC faces the challenges of climate change and dependency of fossil fuels, transitioning to renewable energy sources like offshore wind will play a pivotal role towards a more sustainable and environmentally sound energy future.
This is a very timely and positive announcement for Oceanic. It is clear the province will be looking for utility scale renewable energy projects that have peak production during the winter high demand period and have the potential for significant first nations partnerships. Partnerships with First Nations are essential in the development of offshore wind projects.
There are few wind resources of the scale and consistent reliable strength of the
Oceanic plans to immediately begin discussions with a large international company who is renowned for its development, construction, and operation of large offshore wind projects around the world. The goal is to partner with first nations and a significant company who can quickly engage in continuing the development of the project and ultimately be a successful part of the spring 2024 BC Hydro call and future calls as they are announced. As these relationships are being built, Oceanic will be working on consultation with local first nations communities to solicit their inputs and their interest in participation.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
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For further information please contact:
Michael O’Connor, President & CEO
Tel: 604-631-4483
Email: moconnor@oceanicwind.ca
Source:
2023 GlobeNewswire, Inc., source