Samsung in advanced talks to set up wind, solar manufacturing in Ontario
I just learned — and confirmed — today that South Korean industrial and electronics giant Samsung Group is in serious, high-level talks with the Ontario government about setting up manufacturing operations in the province for wind, and possibly solar, that would be used to supply its own renewable-energy development projects in the area and neighbouring jurisdictions. A framework agreement could be signed soon, and would pave the way for the creation of hundreds of jobs and the investment of billions of dollars in the province.
This comes on the heels of the long-awaited launch of Ontario’s feed-in tariff (FIT) program, which was accompanied by an announcement of local content rules that will required 25 per cent Ontario content for wind and 40 to 50 per cent for solar. On Jan. 1, 2011, the solar target will rise to 60 per cent, while wind will jump to 50 per cent on Jan 1, 2012. Read story here for more details, and click here for list of feed-in tariff rates. UPDATE: Government put out a statement here.
I’ll be writing more analysis and commentary later on the FIT program and what to expect.