Samsung C&T Corporation and the Korea Electric Power Corporation (KEPCO) are going to invest CAD 7 billion into the development of solar and wind energy projects in the Canadian province of Ontario. The result of this investment is some 2.5 GW of new power generating capacity, which will triple Ontario's power output, and bring clean electricity to about 580,000 average households. Needless to say, an investment of this size will also bring about 16,000 new jobs in building, installation and operation of the renewable energy projects.

The "Korean consortium" will work with major partners on attracting four manufacturing plants, which will create about 1440 manufacturing and other jobs. Wind and solar technology developed in Ontario will be available for use in the province, but also throughout North America. Another proposition of this initiative is that the consortium will use locally produced steel for wind turbine tower manufacturing.

This will be the largest investment ever in Ontario's renewable energy capabilities. The province was chosen because the Green Energy Act guarantees stable rates for renewable energy, according to Ontario's Office of the Premier.