What did the Nova Scotia–Massachusetts MOU commit to?

The MOU sets up collaboration on offshore wind exports and transmission planning. It focuses on studies, regulatory coordination, and defining options for cross-border delivery into Massachusetts. It does not award projects or guarantee prices, but it signals intent that can reduce development risk if findings support viable routes and contracts.

What is Nova Scotia’s Wind West project?

Wind West is a C$60 billion plan to develop offshore wind, targeting 5 GW by 2033 with potential for much more later. It aims to build a durable supply chain in Atlantic Canada, add clean power, and support exports to New England if transmission and offtake structures prove feasible and financeable.

How could investors in Canada get exposure to this theme?

Consider TSX-listed utilities involved in transmission, engineering and construction firms with offshore experience, and suppliers of subsea cables, towers, or services. Review balance sheets, order books, and execution history. Exposure may also come via yield-oriented regulated assets as grid investments proceed, once contracts and cost recovery are defined.

What are the main risks to watch?

Permitting timelines, interconnection constraints, and inflation in turbines, vessels, and cables are key. Currency risk between CAD and USD matters for cross-border deals. Weather windows add schedule risk. Contract terms, tax credit clarity, and community engagement will heavily influence bankability, financing costs, and delivery schedules.

When could first power exports realistically start?

Timelines depend on permitting, procurement, and transmission readiness. Early phases will likely advance after studies and regulatory steps define routes and costs. Investors should watch 2026–2027 milestones on leasing, grid studies, and procurement design to gauge when construction can begin and when initial exports may flow.

Global Market Insights

Massachusetts-Nova Scotia Wind Deal Eyes Exports, Grid – February 9

ByDanny Kontos February 9, 2026February 9, 2026

Nova Scotia Massachusetts offshore wind cooperation advanced on February 9 with a new MOU to study power exports and grid planning. The agreement aligns with Nova Scotia’s C$60 billion Wind West project, aiming for 5 GW by 2033 and larger buildouts later. For Canadian investors, it signals potential offtake into New England, a cross-border power transmission build, and a sizable offshore wind capex cycle in Atlantic Canada. Success still depends on permitting, tax credits, and financing clarity on both sides of the border.