Ontario Technology Corridor Shines at Intersolar Europe

Ontario Technology Corridor executives attend Intersolar Europe 2010 in Munich, Germany to show international renewable energy companies that Ontario is the best place in North America to expand or relocate their businesses.

"For the solar industry, our most compelling attraction is the Ontario Power Authority's feed-in tariff, or FIT Program, modeled after successful programs in Germany and France,” said Blair Patacairk, Senior Consultant, Investment, OCRI, Ottawa's leading economic development organization and an Ontario Technology Corridor partner.

“It features North America's first comprehensive, guaranteed pricing structure for renewable electricity production, offering stable prices under long-term contracts for solar photovoltaic, on-shore and off-shore wind, biomass, biogas, landfill gas, and waterpower energy."

The $7 billion green energy investment agreement with a consortium created by Samsung C and T Corporation, Trading and Investment Group and the Korea Electric Power Corporation (KEPCO) is the largest of its kind in the world.

The project will have a combined power-generating capacity of 2.5 GW by 2016, producing energy equivalent to four per cent of Ontario's total electricity consumption, which is a lynchpin of Ontario’s appeal and the Ontario Technology Corridor marketing campaign.

A total of 694 feed-in tariff contracts will create 20,000 direct and indirect green energy jobs and attract about $9 billion in private sector investment. Ontario is currently a North American leader in the adoption of green energy policies with its passing of the Green Energy Act in May 2009 and is home to 110 head offices of clean technology companies.

Source: Ontario Technology Corridor