Ontario has so far approved thousands of green energy contracts, ranging in size from a few solar panels on the roof of a family home to industrial-scale projects, in which they agree to pay several times the going electricity rate for periods of up to 40 years. It has also signed a controversial $7-billion deal with a consortium led by South Korean giant Samsung that includes a massive investment in wind and solar electricity. The hope is that all the spending will seed a new green energy industry in Ontario (all projects must source a percentage of materials locally), creating some 50,000 new jobs in the process.
Posted by Ian:
Following Ontario’s $7 billion deal with Samsung, will the province really benefit from the creation of green energy jobs? Not according to a study looking at the American Recovery and Reinvestment Act which found early $2 billion has been spent on wind power, funding the creation of enough new wind farms to power 2.4 million homes over the past year. But the study found that nearly 80 percent of that money has gone to foreign manufacturers of wind turbines.
While it is an affirmation of Dalton McGuinty’s Green Energy Act, it is much, much more for St. Thomas which is poised, hopefully, to benefit from the economic spinoffs.
With acres of vacant industrial space along South Edgeware Road and a vast pool of skilled labour, it is easy to see why Mayor Cliff Barwick is confident we can direct some of that massive investment in wind farm and solar energy technology into the city.
“We have space, we have skilled workers, we are a manufacturing city with an awful lot of skills,” Barwick noted after the announcement.
“It is like fishing,” he continued. “I cannot say we have one snagged, but it looks good.”
The Ontario government’s multi-billion-dollar wind turbine deal with South Korean industrial giant Samsung Group is in jeopardy after a power play in Premier Dalton McGuinty’s cabinet, the Toronto Star has learned.
Sources say rival ministers opposed to Deputy Premier George Smitherman’s pet scheme, which they fear will mean “billions” of dollars in subsidies to Samsung, have convinced McGuinty to stall the landmark deal first reported in the Star on Sept. 27.
Giant conglomerate Samsung is apparently pondering a wind farm comprising 200 turbines on the north shore of Lake Erie but the Ontario government would only confirm Sunday that talks with the Korean-based company are in advanced stages.
The proposed wind farm, part of Samsung’s new push into renewable energy, would stretch about 25 kilometres from Port Maitland toward Nanticoke, an area considered to have excellent wind potential.
The Ontario government said the two parties have been involved in “months of extraordinarily co-operative effort” toward an agreement that would involve billions of new investment, including in manufacturing facilities.
TORONTO — South Korean electronics and industrial giant Samsung is in talks with the Ontario government to establish a renewable energy business in the province.
In a release, Ontario says talks have been ongoing for months and progress is being made toward an agreement.
In May, Samsung announced plans to enter the wind turbine market in 2010.