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Cablegate: Korean Consortium Hits Green Energy Gold

VZCZCXYZ0000
RR RUEHWEB

DE RUEHON #0058 0212001
ZNR UUUUU ZZH
R 211939Z JAN 10
FM AMCONSUL TORONTO
TO RUEHC/SECSTATE WASHDC 0079
INFO ALL CANADIAN POSTS COLLECTIVE
RHEBAAA/DEPT OF ENERGY WASHINGTON DC
RUCPDOC/DEPT OF COMMERCE WASHINGTON DC

UNCLAS TORONTO 000058

SIPDIS
DEPT PASS TO FERC
DEPT PASS TO USTR/MARY SULLIVAN
DEPT PASS TO EPA

E.O. 12958: N/A
TAGS: ENRG ETRD EINV SENV CA
SUBJECT: Korean Consortium Hits Green Energy Gold

REF: 09 TORONTO 255

1. (U) On January 21, Ontario announced a landmark C$7 billion deal
to develop 2,500 megawatts (MW) of wind (2,000 MW) and solar (500
MW) power projects at highly-subsidized rates. The winner of the
award is a Korean consortium led by Samsung Corporation and the
Korean Electric Power Corporation. The Province's announcement
confirms speculation that Samsung would establish manufacturing
facilities in the Province in order to qualify for the lucrative
feed-in tariffs associated with the province's Green Energy Act
(reftel). The consortium will reportedly manufacture equipment
such as wind turbine towers and solar inverters in Ontario.

2. (U) Negotiations for the deal, shrouded in controversy,
apparently began long before the domestic content requirements for
feed-in tariff eligibility were finalized and released to the
public in late September 2009. Details revealed in today's
announcement, coming nearly four months after the deal was first
leaked, does not differ markedly from the initial reports.
JOHNSON

© Scoop Media

 
 
 
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