$20 billion in renewable energy investments power Ontario Clean Technology

Dallas, October 19, 2011 -- The Ontario Clean Technology Alliance announced at Solar Power International in Dallas this week that Ontario is experiencing a clean technology revolution. Last year, Canada’s largest province installed 168 megawatts of solar photovoltaic capacity, surpassing New Jersey as the second leading North American jurisdiction for new solar projects during 2010, the Alliance said.

Ontario has attracted more than C$20 billion (US$19.5 billion) in renewable energy investment commitments since it launched its feed-in-tariff (FIT) program two years ago. The largest single commitment is a C$7 billion investment by South Korea's Samsung C&T Corp.

In addition to Toronto, Windsor and Tillsonburg, where Samsung will produce solar inverters, wind turbines and blades, last month the company announced it would manufacture solar modules in London, Ontario, creating 200 new green energy jobs in that city.
 
This summer, MEMC Electronic Materials Inc. and SunEdison, its solar energy subsidiary, along with manufacturing partner Flextronics announced expanded manufacturing capacity to deploy rooftop solar panels on municipal buildings in Newmarket, Ontario, with an expectation of generating 400 green energy jobs along with 1.17 megawatts (MW) of solar capacity.
 
Ontario offers North America’s most advanced green energy policies, targeted incentives and a generous FIT program to expansion-minded clean technology companies, the Alliance said. Political uncertainty around the program has been erased after this month’s re-election of the Liberal Party for a third term. The day after the Liberal election victory, shares of Sustainable Energy Technologies, a manufacturer of solar inverters, jumped 11 percent on the TSX Venture Exchange. Solar panel technology maker Day4 Energy Inc. rose nearly 7 percent.
 
The Ontario Power Authority’s FIT Program is modeled after successful programs in Germany and France. 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.
 
“Ontario’s stated goal is to become North America’s leading manufacturing center of excellence in solar energy production,” said Jennifer Patterson, Senior Business Development Consultant, Hamilton Economic Development. “With the help of innovative companies like Samsung and SunEdison, our province is another step closer to developing a more reliable, cleaner energy system.”

The Alliance said Ontario is home to 110 head offices of clean technology companies that are predominantly engaged in the development and marketing and/or use of their own proprietary technology to deliver products or services that reduce or eliminate negative environmental impacts. Sustainable Development Technology Canada projects that by 2015, these Ontario clean technology companies will generate revenues in excess of C$1 billion. In addition there are more than 2,800 environmental industry companies in Ontario, generating approximately $7 billion in revenue and employing 65,000 people.

Ontario is also a North American leader in the adoption of green energy policies with its passing of the Green Energy Act in May 2009. Other targeted programs available to the alternative energy and clean technology sector include: Ontario Emerging Technologies Fund, Ontario Innovation Demonstration Fund, Ontario Power Authority Technology Development Fund, SDTC Sustainable Tech Fund, and SDTC’s NextGen Biofuels Fund.

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