Samsung's $3 Billion Solar & Wind Deal with Ontario

By Admin
Ontarios Green Energy Act has been the catalyst driving the Canadian province into the position of number two in installed solar capacity in North Ame...

 

Ontario’s Green Energy Act has been the catalyst driving the Canadian province into the position of number two in installed solar capacity in North America, trailing only California.  In keeping up its renewable energy endeavors, Ontario has offered South Korea’s Samsung C&T Corp. a CA$3 billion contract to develop solar and wind farms throughout the province. 

The terms of the deal stipulate that Samsung will build 520-megawatt projects in the Haldimand and Chatham-Kent and 550-megawatt projects in Kingston and Bruce regions of Ontario.  The contract represents the initial two steps in what will be a five-step plan spanning two decades to construct and operate 2,000 MW of wind capacity and 500 MW of solar capacity in the province.

SEE OTHER TOP STORIES IN THE WDM CONTENT NETWORK

Ontario's Solar Power Boom

SolarCity to Sell Solar EV Charging Stations

Read the latest issue of Energy Digital!

Construction is scheduled to begin in 2012 and the first two phases completed by 2014.  Samsung C&T will work in conjunction with Korea Electric Power Corp. to design the plants’ electrical wiring and operate them upon completion. 

Under Ontario’s Green Energy Act, Samsung pledged to invest CA$7 billion into the province in 2010.  The pledge was made in exchange for CA$110 million in subsidies over a 25-year period. 

Share

Featured Articles

Alfa Laval to supply world’s largest green hydrogen plant

The facility is being built in NEOM, the US$500bn futuristic city being developed in Saudi Arabia

COP27 agrees to climate compensation fund

The deal is said to be a historic first in acknowledging the vast inequities of the climate crisis

North America's natural gas can help mitigate energy crisis

In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues

COP27: Egypt and Norway to build 100MW green hydrogen plant

Renewable Energy

Renewable energy company Masdar opens office in Saudi Arabia

Renewable Energy

Ørsted closes US$140m transaction with ECP for US portfolio

Renewable Energy