Samsung C&T Corp. and Korea Electric Power Corp. has signed an agreement with the government of Ontario to develop a $7 billion wind and solar project, according to reports.
The government’s official release is here.
The 2,500 megawatt project will include 1,000 wind turbines that will provide 80 percent of the power for the project. The project will create 16,000 jobs over six years, according to The Toronto Star.
Ontario Premier Dalton McGuinty said,
With this step, Ontario is becoming the place to be for green energy manufacturing in North America.
Korea Electric will design the transmission system and operate the project, which is tentatively slated for completion by 2016. The first phases of the five-part project will be located in Haldimand County and Chatham Kent.
Samsung will also receive an “economic development adder” incentive in addition to the feed-in tariff for green energy, which has prompted criticism from McGuinty’s own government that ratepayers will subsidize the consortium.
Critics also say the consortium will have an unfair advantage over local wind producers.