Canadian fund supports floating wind plan to decarbonize oil and gas

By: James Bernthal-Hooker 12/05/2021 Saitec

Foundations General Turbines

The government of Canada is backing plans to see floating wind energize oil and gas drilling in Newfoundland and Labrador.

The Canadian government’s C$24.4 million Emissions Reduction Fund, via Natural Resources Canada, is funding several projects that seek to reduce greenhouse gas emissions from Newfoundland and Labrador’s oil and gas outfits. Among the project proposals is one from floating wind developer Saitec and Newfoundland-based oil and gas company Waterford Energy Services Inc (WESI).

In this funded stage of their project, Saitec and WESI will develop a project plan for a ‘plug-and-play’ renewable power option for mobile offshore drilling units.

The partnership anticipates a second phase, not included in the funding, to involve a full field demonstration, with a floating wind turbine transmitting power to a nearshore or offshore installation.

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Canadian fund supports floating wind plan to decarbonize oil and gas

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