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    Samsung plans final green energy plant
  • 26Jun

    Samsung plans final green energy plant

    Samsung will open a solar energy equipment plant in London -- its last under a green energy deal with Ontario
    The last of four manufacturing plants promised under Samsung Renewable Energy’s controversial green energy deal with Ontario will open in London, the company says.
    The announcement comes less than a week after the province announced it was scaling back the agreement – lopping off two of five planned phases, and slashing the amount of renewable energy that Samsung will develop.
    On Wednesday, Samsung said it will partner with Canadian Solar Inc. to open a factory in London to make equipment for solar energy projects.
    The new plant will employ 200 workers, the company says, bringing total employment in the four plants to 900.
    The plant will also be “a hub for Canadian Solar to conduct research and product development associated with solar energy generation,” the companies say.
    Samsung signed an agreement with the province in 2010, in which it agreed to invest $7 billion in the province. It agreed to set up four manufacturing plants while developing 2,000 megawatts of wind power and 500 megawatts of solar power.
    Last week, the province and Samsung announced that Samsung’s power projects had been scaled back to a total of 1,369 megawatts.
    The company’s investment drops to $5 billion, and the province’s power purchases under a 20-year agreement will be reduced by $3.7 billion, to $6 billion.
    Despite cutting back the agreement, Samsung was still required to open the fourth manufacturing plant. With other partners, it has also opened plants that manufacture wind turbine equipment in Windsor and Tillsonburg, and solar components in Toronto.
    Establishing manufacturing plants was a key part of the Samsung agreement as the deal was negotiated during a sharp downturn in the auto industry, and Ontario was looking for alternatives to pick up the slack.

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