The federal government is putting $100 million into research to help Wind West win over investors as developers prepare to bid for offshore licences.

Energy Minister Tim Hodgson and Atlantic Canada Opportunities Agency Minister Sean Fraser were in Halifax alongside Premier Tim Houston for the announcement early Thursday morning.

Part of the money is earmarked for floating buoys that can measure wind speeds and ocean conditions. 

Of that $100 million, $3 million will expand existing transmission modelling to cover infrastructure that could reach Quebec, Ontario and beyond. Marine survey work is also planned, since the route to those provinces would run underwater.

Natural Resources Canada previously funded a $5-million feasibility study for Wind West. It found Atlantic Canada’s offshore winds hold hundreds of gigawatts in untapped potential, but the region will need to secure demand from key markets to achieve it.

Total costs depend on whether the project secures investment tax credits and low-cost financing from the Canada Infrastructure Bank, as well as its scale and what it would power. 

That could include the Maritimes region, the hydrogen industry, provinces to the east and American neighbours to the south.

READ MORE: Failing to secure demand contracts could stifle offshore wind ambitions in the Maritimes

Nova Scotia has previously estimated the project could cost $60 billion, with two-thirds going to wind farms and the rest to transmission infrastructure.

The project was recently featured at the Canada Investment Summit, with the federal government pitching it as a $44-billion proposal that could deliver 5 GW of offshore wind generation.

The provincial and federal government have been working to attract investors, as developers prepare to bid for offshore licences later this winter. 

Some developers have said their interest is conditional on getting the ball rolling on transmission lines that could reach various markets. 

More to come…