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flag Nova Scotia launches offshore wind funding, charging $7,000/MW annually for 10 years, aiming for $35M yearly revenue.

flag Nova Scotia is introducing a financial framework for its offshore wind industry, requiring developers to pay $7,000 per megawatt annually for the first 10 years, with a potential shift to a 4% royalty on gross revenue afterward. flag The province aims to develop up to 5,000 megawatts, potentially generating $35 million yearly initially and up to $100 million later. flag Revenue will support economic growth and clean energy goals, with electricity from early projects set for export, not local use. flag A bid process has not yet been launched.

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