Friday, January 22, 2010

Ontario and Samsung seal $6.7 billion renewable energy deal


Need to know how much it would cost you and your town to generate 2,500 megawatts of pure green energy? Your wind and solar farm infrastructure costs will come to 7 billion CAD (just under 6.7 billion in US currency), which includes a 437 million CAD "sweetener" to get Samsung on board. Plenty of curmudgeons have emerged from the woodwork to trash the deal as costing above market prices, but this appears to be the largest venture of its kind, so we're not entirely sure "market prices" exist yet. For its part, Samsung will create 16,000 jobs in the area, 4,000 of them permanent, as it builds toward the stated goal of providing enough energy to fully power 4 percent of Ontario's population.

[Thanks, Dan]

Ontario and Samsung seal $6.7 billion renewable energy deal originally appeared on Engadget on Fri, 22 Jan 2010 02:21:00 EST. Please see our terms for use of feeds.

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