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Nova Scotia Premier Tim Houston introduced legislation requiring offshore wind developers to pay $7,000 per megawatt annually for the first ten years. The province aims to generate $35 million yearly from a projected 5,000 MW capacity in the initial phase.

After ten years, the fee may switch to a percentage of gross revenue, potentially set at four percent. All electricity produced will initially be exported, with no immediate plans for local consumption. The legislation is part of a broader energy strategy, including a transition of power grid management and regulatory updates for other energy sectors.