Friday, January 22, 2010

Biggest Wind & Solar Deal in History

Have you seen what's going on just north of the border in snow-country?

Samsung Signs $6.6 Billion Deal to Build Wind and Solar Power in Ontario

$6.6 bil for 2.5 nuke plants worth of electric power without the commercial risks & insurance of nuclear power.
In what’s being described as the largest deal of its kind in the world, Samsung C&T and the Ontario government signed a $6.6 billion investment deal Thursday under which the Korean industrial conglomerate will build 2,500 megawatts of wind and solar power in the province, as well as establish manufacturing facilities that will build the equipment.
Creating 16,000 new manufacturing-related jobs.
Under the terms of the agreement, officials said, Samsung must build four manufacturing plants in Ontario, promising 16,000 direct and indirect jobs over the next five years. The energy generated will be enough for 580,000 homes.
Replacing climate-changing coal-burners.
The first phase will be built near Windsor, in southwestern Ontario where energy was once generated by a coal plant that is due to be decommissioned by 2014.
Who next? Hyundai? And where?
And it is not the only Korean firm pushing into the North American green energy market. Last year, Hyundai Heavy Industries moved into wind turbine manufacturing and has also been pushing to make inroads into the United States.
Just wait'll President Hu Jintao gets wind of this.

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