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K2 wind farm proceeds despite scaled back Samsung deal

Samsung C&T Corp. is moving ahead with its role in the K2 Wind Power Project near Kingsbridge, even after negotiating a new green energy agreement with the Ontario government.

Although the new Green Energy Investment Agreement announced by the Energy Minister Bob Chiarelli yesterday scales back Samsung’s investment commitment from $7 billion to $5 billion by 2016 and reduces the total project megawatts from 2,500 to 1,369, the company said it will proceed with its partnership with Capital Power and Pattern to build the K2 Wind Power Project in Huron County. It will also move forward with Armow Wind Energy Project in Bruce County, and others in Haldimand, Chatham-Kent, Kingston and Loyalist.

“Beyond the environmental and health benefits, the renewable energy sector is creating needed jobs in the province. Hundreds of local Ontario workers have already begun making Samsung’s renewable energy projects a reality and there are many more jobs planned for the future,” said Ki-Jung Kim, the executive vice-president of Samsung C&T.

“We also believe that being part of an engaged, supportive community is critical for our success. That’s why we have established benefit funds worth tens of millions of dollars that address health, education, environmental and aboriginal needs identified by each of our communities,” he said.

The revised agreement includes construction of a fourth manufacturing plant in London by the end of the year. The London plant, along with ones built in Toronto, Tillsonburg, London and Windsor are expected to create up to 900 direct jobs.

Huron-Bruce MPP Lisa Thompson said the project 900 jobs are in sharp contrast to the 16,000 jobs promised when the Ontario Liberals penned a deal with Samsung and Korea Electric Power Corporation, also known as the Korean Consortium.

“Kathleen Wynne is continuing the same failed energy policy of Dalton McGuinty,” Thomspon said. “We are in the midst of a jobs and economic crisis and this government is still giving Samsung $6 billion to create a maximum of 900 temporary manufacturing jobs? Where is the return on investment on that?”

Here is a list of projects approved in the Green Energy Investment Agreement:

Phase

Site Name

Capacity (MW)

Fuel

Project Company

1

Grand Renewable Energy Park

150

Wind

Grand Renewable Wind LP

1

Grand Renewable Energy Park

100

Solar

Grand Renewable Solar LP

1

South Kent Wind Project

270

Wind

South Kent Wind LP

2

K2

270

Wind

K2 Wind Ontario Limited Partnership

2

Armow

180

Wind

SP Ontario Wind Development LP

2

Kingston North

100

Solar

Kingston Solar LP