October 6, 2009

Samsung to build 600 MW of Renewables

CANADA/ENVIRONMENT - South Korean industrial giant Samsung Group has announced plans to build 600 megawatts of renewable wind and solar power projects in Ontario.

The Energy and Infrastructure Ministry is now asking the province's power authority to "hold in reserve" enough transmission capacity to support "renewable energy generating facilities whose proponents have signed a province-wide framework agreement with the province".

500 megawatts will be set aside and 100 MW will be developed on Class 3 agricultural lands in western Ontario

Samsung seeks to become a major developer of renewable-energy projects and a manufacturer of support machinery/products for maintenance.

If the deal goes through Samsung will be investing several billions of dollars in Ontario and create hundreds of jobs, most of them in manufacturing. All indications are the deal is a go.

The deal has sparked some controversy from competitors as to whether Samsung is receiving special treatment, but the truth is the province has to make assurances in an effort to make Samsung feel comfortable investing billions in Ontario.

When dealing with such large numbers its sometimes necessary to give some special treatment to make both parties feel their needs are being met.

Ontario has a goal of dramatically increasing their solar and wind capacity by 2011 and it will require some large reliable manufacturing companies to do it.

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