N.S. natural resources minister still believes in the potential of tidal power

Nova Scotia's natural resources minister says he isn't ready to step away from the tidal energy sector, despite the failure of another outfit hoping to conquer the tides of the Bay of Fundy.

Tory Rushton was responding a day after it was learned publicly that Occurrent Power, formerly known as Big Moon Power, had filed for bankruptcy.

"This is a sector we want to see built out in Nova Scotia," he told reporters Thursday at Province House.

"We're willing partners here. If we can harness it and make [electricity] at an affordable rate, then we're certainly going to do that."

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Rushton said the company had not approached the province for financial support, but he said staff in his department are "communicating" with Occurrent through the next steps of the bankruptcy process.

"I'd like to see where that conversation leads to and hopefully there can be a positive outcome here," he said.

The Fundy Ocean Research Centre for Energy (FORCE) in Parrsboro, N.S.,awarded Occurrenta test-site berth in 2020. As part of the deal,Occurrent wasrequiredto recover a turbine abandoned on the ocean floor by OpenHydro another tidal energy enterprisethat went bust six years ago.

That turbine remains in the water, along withfour cement-filledrail cars that were supposed to serve as moorings for Occurrent's devices when they were deployed.

Cleanup questions remain

The province still holds the $4.5-million bond Occurrent posted for the cleanup of the turbine. And while that was estimated to be enough to do the job two years ago, Rushton conceded Thursday it could cost more now.

There is also the question of what will happen with the rail cars.

The provincial government holds a $20,000 security deposit for the cleanup of the four temporary gravel pads under the rail cars, but Rushton said his department is still evaluating what happens next.

One option could be to see if another company seeking a berth at FORCE is able to do the work, but the minister said he did not want to wait too long before cleanup happens. Fishermen have expressed concern that the moorings, in particular, present a navigational hazard.

"It's been less than a week since we got the news from Occurrent so these are conversations that are taking place," said Rushton.

"This is in my constituency. I talk to constituents regularly and people that are in the field. They'd like to see it brought back up to surface, too, so it's not a hindrance."

A costly option

The minister noted the device Occurrent was preparing to launch was still in the testing stage. Rushton said he doesn't think it can produce electricity at a competitive rate yet.

The company had a 15-year power purchase agreement with Nova Scotia Power that would have paid 53 cents per kilowatt hour. By comparison, the current residential rate is 17 cents.

Despite the fact that wind energy is much cheaper to produce and it is expanding at a rapid rate throughout the province, Rushton said he still believes there are companies that want to take a shot at harnessing the power of the highest tides in the world.

"As investors are still willing to come to Nova Scotia and sort of play the game, we're willing to be a partner there," he said.

The executive director for FORCE said the site has one active berth holder. Eauclaire Tidal announced a partnership with Orbital Marine Power last December.