Marine Renewables Canada Responds to Federal Budget 2025: Positive Signals for Major Project Acceleration and Renewable Energy Growth
Halifax (Nova Scotia), November 5, 2025 – Marine Renewables Canada (MRC), the national association representing wave, tidal, river current, and offshore wind energy, welcomes the Government of Canada’s Budget 2025, which introduces several measures aimed at advancing clean energy, major projects, and industrial competitiveness.
The budget outlines funding and initiatives that will be important to the marine renewable energy sector, including:
- $213.8 million over five years to fund the newly launched Major Projects Office and Indigenous Advisory Council, both critical to advancing clean energy projects and strengthening Indigenous participation in Canada’s economy.
- Efforts to boost major project financing, with the Major Projects Office coordinating investment from public, private, and Indigenous partners – supported by a $10 billion increase to the Canada Infrastructure Bank’s capital envelope.
- Implementation of a Clean Electricity Investment Tax Credit effective April 16, 2024, alongside enhancements to existing clean energy investment tax credits (ITCs), which support marine, offshore, and grid-integrated renewables.
- The new Productivity Super-Deduction and expanded Scientific Research and Experimental Development (SR&ED) incentives to accelerate investment in innovation and technology development.
- Launch of Canada’s Climate Competitiveness Strategy, combining strengthened carbon pricing, streamlined regulation, and targeted clean investment incentives to support the country’s low-carbon industrial transition.
“Budget 2025 signals continued commitment to building a clean, competitive economy and acknowledges the importance of major infrastructure and investment certainty,” said Elisa Obermann, Executive Director of Marine Renewables Canada. “Measures such as the Clean Electricity Investment Tax Credit and new financing mechanisms will help our members advance world-class tidal, wave, and offshore wind projects while creating jobs and sustainable opportunities in coastal and Indigenous communities.
Looking ahead, extending clean economy tax incentives through 2040 would help ensure the long-term confidence and investment stability needed to fully realize Canada’s renewable energy potential.”
“We look forward to coordination across sectors and governments through the Major Projects Office and Indigenous Advisory Council,” added Jonathan Robinson, Senior Policy Advisor at Marine Renewables Canada. “Unlocking historic investments in marine renewable energy depends on efficient regulatory processes and coordinated investment. Budget 2025 sets the stage for Federal leadership to meet Canada’s net-zero and energy security goals.”
MRC will continue to analyze Budget 2025 in depth, particularly with respect to how federal investments and tax measures can be leveraged for offshore and coastal renewable energy projects. The association will also engage with federal departments to provide input on program design and ensure the sector’s priorities are reflected as implementation moves forward.
For members seeking further detail, MRC has prepared a summary of budget measures relevant to the sector.
More Information
About Marine Renewables Canada
Marine Renewables Canada is the national association for tidal, offshore wind, wave and river current energy, representing technology and project developers, suppliers, utilities, Indigenous organizations, researchers, and communities. We strive to champion Canada’s growing marine renewable energy sector through advocacy, engagement, and education and expand market opportunities across the country and globally. Learn more at www.marinerenewables.ca.
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For media inquiries, please contact:
Chelsi Bennett
Marine Renewables Canada