Korean Firms Investing $7B In 2,500 MW Of Renewable Energy

A consortium led by Samsung C&T Corp. and Korea Electric Power Corp. will invest $7 billion to generate 2,500 MW of solar and wind power in Ontario, Canada. These projects will triple Ontario's output from renewable sources, according to the office of Ontario Premier Dalton McGuinty.

The investment will also lead to more than 16,000 new green-energy jobs to build, install and operate the renewable generation projects. The Korean consortium plans to work with major partners to attract four manufacturing plants. Doing so will lead to the creation of 1,440 additional manufacturing and related jobs building solar and wind energy technology for use in Ontario and export across North America.

This investment is the single largest investment in renewable energy in provincial history, McGuinty's office notes, adding that the consortium selected Ontario for its investment because the province's Green Energy Act guarantees stable rates for renewable energy.

SOURCE: Office of Ontario Premier Dalton McGuinty

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