Korean consortium moves fast to consolidate green energy sector in Ontario
TORONTO, ON — The Korean Consortium, which signed a green energy investment agreement with the province of Ontario on Jan. 21, has begun negotiations with several established wind and solar power manufacturers to expedite the development of four facilities: wind tower, solar inverter, solar module assembly and wind blade manufacturing. The new green energy infrastructure is expected to generate more than 16,000 new jobs in manufacturing and construction, as well as in auxiliary sectors, such as architects, professional services and transportation.
"Since the landmark agreement signed on Jan. 21, we have been advancing discussions with leading makers in all four areas, including solar module assembly and wind blades, to help fast track the establishment of North America's first green-energy manufacturing sector," said Sung-ha Chi, Samsung C&T Corporation President and CEO.
As part of its commitment to make Ontario the go-to market for green energy component suppliers, equipment manufacturers and operators, the Korean Consortium signed a memorandum of understanding with leading wind tower maker Dongkuk S&C to establish a manufacturing facility in the province. It is also in advanced discussions with Canadian solar inverter manufacturer, Satcon Technology.
The consortium estimates that more than 16,000 jobs will be created through the establishment of 2,500 MW of solar and wind power. The new jobs include full-time permanent employment at four manufacturing facilities, as well as thousands of additional jobs created in construction, engineering, operations, maintenance and other spin-off industries.
According to consortium estimates, the $7 billion investment in Ontario will result in the following employment opportunities:
- 3,140 jobs including KC and its partners manufacturing and other related jobs as well as in engineering, operations, maintenance and other spin-off employment
- 7,800 construction jobs
- 5,660 spin-off jobs (for example: architects, software development, legal services, trucking, steel-making, facilities management, accounting and financial services)
The Korean Consortium will facilitate all project operations, overseeing the entire process of establishing the wind and solar power cluster, procuring equipment and financing, as well as designing and connecting the transmission and distribution system in operating the facilities. The Ontario government will provide some assistance in securing land for the construction of cluster installations and provide facilitation support for the project while also purchasing the produced electricity.