The tides have turned. after more than 30 years of exploring, planning and readying the world for energy from the ocean, Nova Scotia’s Bay of Fundy is wired for tidal power. Four underwater power cables have been installed successfully in the Minas Passage, each able to deliver electricity directly to homes across the province.

The installation, with a combined length of 11 kilometres and total capacity of 64 megawatts, is noteworthy. The project marks the largest transmission capacity for tidal power in the world and further cements Nova Scotia’s reputation as a global leader in this field.

That leadership has ebbed and flowed. In 2007, the province established North America’s only tidal testing centre, the Fundy Ocean Research Centre for Energy (FORCE), which oversaw the recent cable installation and is home to four demonstration projects. One of those is being spearheaded by Black Rock Tidal Power Inc., a local firm with international partners that’s testing a unique approach to harnessing the powers of the world’s highest tides. Black Rock’s technology combines a one-of-a-kind floating platform that’s semi-submerged and uses inexpensive, small tidal turbines.

Such innovative technology is at the heart of FORCE and Nova Scotia’s growing reputation as a world leader in tidal power. But that growth has been slow and uneven. The first tidal mills were built in the province in 1607, only a few years after the French established the first habitation at Port Royal. It would take more than another 375 years, however, before the dream of drawing unimpeded energy from the ocean inched closer to reality with the construction of a tidal power plant in 1984.

Today, tidal power is closer than ever to being an alternative source of energy for the province; the recently laid undersea cables will be able to transmit enough electricity to power 20,000 homes at peak tidal flows.

Plans for tidal power have been rapidly evolving since 2007, when FORCE was established. Nova Scotia went on to introduce one of the world’s first feed-in tariffs for in-stream tidal energy. According to Gerhard Jensen, CEO of SCHOTTEL Group, one of Black Rock’s partners: “This means that the many companies working toward tidal power development here in Nova Scotia can bring tidal power to a bankable technology; a technology that’s proven to be safe and reliable and worthy of investment.”

Despite the international accolades, Nova Scotia’s interest in tidal power lies closer to home. The possibility for local jobs and a stronger economy are intertwined with the government’s commitment to tapping into the 160 billion tonnes of water that flows into and out of the Bay of Fundy twice a day. Local firms such as Black Rock have been established and are hiring Nova Scotian expertise, contractors and employees.

Commercialization also is on the horizon. Two years ago, the province released its marine renewable energy strategy, which lays the foundation for such energy projects in anticipation of commercial development and the establishment of a new industry.

Furthermore, earlier this year, an agreement was forged between the Offshore Energy Research Association of Nova Scotia and the U.K’s Technology Strategy Board, with the aim of encouraging joint research and creating opportunities for businesses and commercialization.

© 2014 Investment Executive. All rights reserved.