Samsung Renewable Energy to construct PV module manufacturing facility in London, Ontario

Financials

Samsung Renewable Energy has selected London, Ontario for the site of its new solar module manufacturing facility. The modules produced at the site will be used for installations constructed in Ontario and abroad. While Samsung did not reply to requests for additional information regarding the plant’s capacity or cost, it has been reported that the London plant is expected to be operational by 2012. The facility is anticipated to create 200 direct, long-term manufacturing jobs and 120 indirect jobs for a city, which ranks high in unemployment for Canada.

Upon its completion, the plant will fulfill Samsung’s agreement with the Government of Ontario for its Green Energy Investment Act (GEIA). Under the GEIA agreement, Samsung and its partners will invest CAN$7 billion of new investment in Ontario while creating 16,000 jobs and generating 2,500MW of clean wind and solar energy. In addition to the PV module plant in London, Samsung is constructing four manufacturing facilities to produce wind towers and blades in Windsor and Tillsonburg and inverters in Toronto.

“Together with our partners, Samsung is proud to be making an unprecedented CAN$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," stated Cheol-Woo Lee, senior executive VP of Samsung C&T.

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