Korean Companies to Anchor Ontario's Green Economy
Area Development Research Desk (Location Canada 2010)
A consortium led by Samsung C&T Corporation and the Korea Electric Power Corporation (KEPCO) will invest $7 billion to generate 2,500 megawatts of wind and solar power in Ontario, tripling Ontario's output from these sources and providing clean electricity to more than 580,000 households.
The investment will also lead to more than 16,000 new green energy jobs to build, install, and operate the renewable generation projects. And, the Korean consortium will also work with major partners to attract four manufacturing plants. This will lead to the creation of 1,440 manufacturing and related jobs building wind and solar technology for use in Ontario and export across North America.
Additionally, the consortium fully intends to use Ontario-made steel in its renewable energy projects, such as constructing its wind turbine towers. This is the single-largest investment in renewable energy in provincial history. The consortium chose Ontario because the province's Green Energy Act guarantees stable rates for renewable energy.