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Published on January 24th, 2010 | by Zachary Shahan

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Samsung Signs $6.6 Billion Solar and Wind Power Deal with Ontario, Canada

January 24th, 2010 by  


That takes my breath away. In one of the biggest renewable energy deals in the history of the world, a Korean consortium led by Samsung* has agreed to build 2,500 megawatts of wind and solar power capacity in the Canadian province of Ontario.

Samsung C&T and the Ontario government signed the deal on Thursday, January 21st. The agreement will bring thousands of jobs and clean energy for more than half a million homes to Ontario.

Building off of this new deal, Korean trade officials plan to make Ontario their base of operations for all of North American.

Samsung first proposed the deal about a year ago, but Ontario’s Green Energy Act is what seems to have actually moved the proposal to a reality — another reason for clean energy activists in the US to look with puppy dog eyes at the rest of the world as they speed ahead with clean energy (and clean energy jobs) and Americans remain tied to the old bone of dirty technology.

As The New York Times reports, “Under the terms of the agreement, officials said, Samsung must build four manufacturing plants in Ontario, promising 16,000 direct and indirect jobs over the next five years. The energy generated will be enough for 580,000 homes.”

The first phase of the project is scheduled to be built near an old coal plant that is supposed to be decommissioned by 2014 (near Windsor). Out with the old, in with the new.

Samsungs new manufacturing facilities under this deal (4 manufacturing plants in Ontario) will be producing wind turbine towers, wind blades, solar inverters and solar assembly by 2015.

Now, as Ontario’s premier, Dalton McGuinty, says, “This means Ontario is officially the place to be for green energy manufacturing in North America.” With generous subsidies for clean energy production under its new Green Energy Act, many more clean energy developers probably have their eye on Ontario as well.

With a project so big and so close to home, the US may start to take the clean energy and climate change legislation that is currently in the Senate a little more seriously. We will see.

*The other major player in the consortium that signed the deal with the Ontario government is the Korea Electric Power Corporation.

via Climate Progress/NYTimes & BusinessGreen

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5) Two of the Country’s Biggest Solar Power Plants Get Utility Contracts

Image Credit 1: ViaMoi via flickr under a CC license

Image Credit 2: kevbo1983 via flickr under a CC license


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About the Author

Zach is tryin’ to help society help itself (and other species) with the power of the word. He spends most of his time here on CleanTechnica as its director and chief editor, but he’s also the president of Important Media and the director/founder of EV Obsession and Solar Love. Zach is recognized globally as a solar energy, electric car, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, and Canada.

Zach has long-term investments in TSLA, FSLR, SPWR, SEDG, & ABB — after years of covering solar and EVs, he simply has a lot of faith in these particular companies and feels like they are good cleantech companies to invest in. But he offers no professional investment advice and would rather not be responsible for you losing money, so don’t jump to conclusions.



  • DS

    ***

    MD Says:

    January 26th, 2010 at 10:14 am

    You guys realize that most of this electrical power will end up in the US right?

    ***

    Which increases the incentive for Ontario to pave the way for this!

    Investment in green tech industry, investment in the manufacturing sector, job creation for the manufacturing (they have been struggling lately thats for sure!) and the added bonus of higher profit potential through sales to the US.

    Way to go Ontario!

    Looking forward to moving back to a greener province after so long out west.

    Cheers!

  • DS

    ***

    MD Says:

    January 26th, 2010 at 10:14 am

    You guys realize that most of this electrical power will end up in the US right?

    ***

    Which increases the incentive for Ontario to pave the way for this!

    Investment in green tech industry, investment in the manufacturing sector, job creation for the manufacturing (they have been struggling lately thats for sure!) and the added bonus of higher profit potential through sales to the US.

    Way to go Ontario!

    Looking forward to moving back to a greener province after so long out west.

    Cheers!

  • Johnson

    Everyone is very happy about this deal but seems to be missing the details which the MSM must have forgot to publish.

    That McGuinty had to bride Samsung to come to Ontario with $437 million incentives from tax payers (which will cause our electric bill to rise $1.60 for the next 25 years)

    That the 16,000 jobs will look more like 1,440 manufacturing jobs and after initial installments have taken place about 12,000 of those 16,000 will be laid off.

    This <a href=”http://enviralment.wordpress.com/2010/01/25/7-billion-samsung-deal-isnt-creating-a-lot-of-fans-in-ontario/”blog post has some great perspective on the matter.

    Via Enviralment:

    “Ontario planned a $23 billion deal for new Canadian made CANDU reactors to be built for about 2,500MW worth of reliable base-load power for 60 years (life span of reactors). This current deal is $7 billion for 2,500Mw of stochastic power for 20 years.

    Nuclear deal=$153,333 per MW-year

    Samsung wind/solar deal=$1,400,000 per MW year.

    This new deal is almost 9 times as expensive as the planned nuclear plant that was canceled because it was ‘too expensive’.

  • Johnson

    Everyone is very happy about this deal but seems to be missing the details which the MSM must have forgot to publish.

    That McGuinty had to bride Samsung to come to Ontario with $437 million incentives from tax payers (which will cause our electric bill to rise $1.60 for the next 25 years)

    That the 16,000 jobs will look more like 1,440 manufacturing jobs and after initial installments have taken place about 12,000 of those 16,000 will be laid off.

    This <a href=”http://enviralment.wordpress.com/2010/01/25/7-billion-samsung-deal-isnt-creating-a-lot-of-fans-in-ontario/”blog post has some great perspective on the matter.

    Via Enviralment:

    “Ontario planned a $23 billion deal for new Canadian made CANDU reactors to be built for about 2,500MW worth of reliable base-load power for 60 years (life span of reactors). This current deal is $7 billion for 2,500Mw of stochastic power for 20 years.

    Nuclear deal=$153,333 per MW-year

    Samsung wind/solar deal=$1,400,000 per MW year.

    This new deal is almost 9 times as expensive as the planned nuclear plant that was canceled because it was ‘too expensive’.

    • correction

      You have misread the article, and are completely mistaken.

      The $7 billion is the money Samsung is *investing* in the province. That is the foreign investment… **into our province**… into *manufacturing* in an industry that is only growing (whether people like it or not)…

      The cost to taxpayers is the $450 million over 20 years, which puts it far below the nuclear project…

      To be honest, I would want both though, but that might just be me.

  • MD

    You guys realize that most of this electrical power will end up in the US right?

  • MD

    You guys realize that most of this electrical power will end up in the US right?

  • Venkat Krishna

    Koreans are truly on the move in the domain of international power generation – last month it was the Nuclear deal in the middle east that they won ahead of more fancied French and now it is the mega renewables deal. Greater acceptance for asian products and skills

  • Venkat Krishna

    Koreans are truly on the move in the domain of international power generation – last month it was the Nuclear deal in the middle east that they won ahead of more fancied French and now it is the mega renewables deal. Greater acceptance for asian products and skills

  • Two years ago, our analysts working with PVinsights, http://www.pvinsights.com , have met Samsung guys. We did recommend Samsung get involved in this market with system level consideration. WE are really happy to see Samsung signed this cotract.

  • Two years ago, our analysts working with PVinsights, http://www.pvinsights.com , have met Samsung guys. We did recommend Samsung get involved in this market with system level consideration. WE are really happy to see Samsung signed this cotract.

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