NEWS:
(London, ON) – Samsung Renewable Energy Inc. (Samsung) today announced it has selected London, Ontario as the site for a new manufacturing facility that will produce state-of-the-art solar modules for use in Ontario and for export around the world. It is expected the new factory will employ 200 direct, long-term manufacturing positions. An additional 120 indirect jobs are expected to be created as well. Once realized, the plant will fulfill Samsung’s manufacturing commitment under its Green Energy Investment Act (GEIA) Agreement with the Government of Ontario.
Under the terms of the GEIA, Samsung and its partners will invest $7-Billion in new investment in Ontario to create 16,000 jobs, kick-start a new industry in Ontario and generate 2,500 megawatts of clean energy – enough to power 600,000 Ontario homes.
QUOTES:
“Samsung is proud to be a part of Ontario’s growing clean economy. We look forward to utilizing the cutting-edge skills of workers in London to bringing renewable energy to residents in Ontario and a prosperous green future for us all.”
–Cheol-Woo Lee, Senior Executive Vice President, Samsung C&T Corporation.
Together with our partners, Samsung is proud to be making an unprecedented $7-Billion private sector investment in Ontario. We are moving forward aggressively to fulfill our commitment to induce new green manufacturing in Ontario, to help us build the world’s largest cluster of wind and solar power, putting Ontario on the global clean energy map. Because of Samsung’s Agreement with the Province of Ontario, we are moving forward to create real jobs and real clean energy in Ontario, for generations to come.”
–Cheol-Woo Lee, Senior Executive Vice President, Samsung C&T Corporation.
KEY FACTS:
The Green Energy Investment Agreement was signed in January, 2010, among Samsung, the Korea Electric Power Corporation (KEPCO) and the Government of Ontario. The commercial agreement commits Samsung and its partners to bring $7-Billion in new investment to Ontario.
Because of this Agreement, Ontario will see:
New manufacturing. Samsung and its partners are constructing four manufacturing facilities to produce wind towers (Windsor) and blades (Tillsonburg), as well as solar modules (London) and inverters (Toronto) for their projects in Ontario. These facilities will also export Ontario-made products around the world – placing Ontario at the forefront of the global shift to clean power.
New jobs. Samsung and its partners will create 16,000 direct and indirect jobs as a result of their investment, kick-starting a new clean-technology sector in communities hard hit by the global recession. 1,800 jobs have been announced to date, and over 600 people are at work today.
New clean energy. 2,500 megawatts of renewable wind and solar energy will be created as a result of the Agreement, reducing Ontario’s dependence on dirty coal.
Samsung and its partners have invested in excess of $150-Million to date in Ontario and have finalized more than 1,000 land agreements with farmers and landowners.
In August, 2011, Samsung signed six legally-binding Power Purchase Agreement contracts with the Ontario Power Authority that will see the first wind and solar projects operational in 2014, producing 1,070 megawatts of clean power.
ABOUT SAMSUNG:
Founded in 1938, Samsung C&T is involved in a broad and growing portfolio of businesses, delivering creative, integrated business solutions to customers worldwide through a network of over 100 offices in 44 countries. Samsung C & T, Korea Electric Power Corporation (KEPCO) and its partners are building the world’s largest renewable energy cluster in Southern Ontario. Samsung was selected by the Ontario Government for its rapidly expanding expertise in the alternative energy field, but also for the proven track record of constructing projects of similar scale from planning and financing to execution. Built on the success of our renewable energy projects in several countries – including the United States, Australia and Italy – Samsung recognized Ontario as a province that was open for business and welcoming of new jobs and investment. For more information: www.samsungrenewableenergy.com
