2014 Annual Report – Marine Renewables Canada

The 2014 Annual Report of the association is now available.

2014 has been another big year for marine renewable energy in Canada, with more to come. In terms of industry activity, some of the key ingredients are now in place that will move us from aspiration to action. Nova Scotia’s FIT established in late 2013 has attracted some of the world leaders in tidal energy development, with some having plans for deployment as early as 2015. Fundy Tidal Inc. has established partnerships with a new project developer and technology developers to realize the potential of the COMFIT projects. We are also seeing growing activity in river energy as the Canadian Hydrokinetic Turbine Test Centre has been working with technology developers to test and prove hydrokinetic devices.

Now that the industry is taking shape, there is a real opportunity developers, suppliers, and experts to come together to share risks, costs, and ultimately innovate to accelerate development. If there is a focus we have pushed hard this year, it is collaboration. Not for its own sake, but clearly as a way to minimize costs and risks and as a way to potentially engage the Canadian supply chain in developing and offering solutions essential to the wider marine renewables industry. Some of our member companies such as Rockland Scientific and Axys Technologies are finding ways to collaborate with international partners, while others like the developers working in the Bay of Fundy have begun to work together to try and solve critical challenges and needs of their projects.

 CLICK HERE for the full report

CLICK HERE for the  2012 & 2013 Financial Statements