• 4 minute Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil and Trade War
  • 1 hour Could oil demand collapse rapidly? Yup, sure could.
  • 12 hours Are EVs Safer Than Combustion Engine Vehicles?
  • 8 hours What If Canada Had Wind and Not Oilsands?
  • 3 hours U.S. Withdraws From U.N. Human Rights Council
  • 1 hour Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 2 hours Gazprom Exports to EU Hit Record
  • 2 hours EVs Could Help Coal Demand
  • 15 hours Sell out now or hold on?
  • 16 hours Nopec Sherman act legislation
  • 11 hours WE Solutions plans to print cars
  • 15 hours Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 10 hours Oil and Trade War
  • 4 hours Lloyd's of London excludes coal
  • 10 hours Australia mulls LNG import
  • 11 hours Russia, Saudi Push For Big Hike In Oil Output Despite Iran Opposition
  • 11 hours Oil prices going down
The Permian Faces A Long Term Natural Gas Crisis

The Permian Faces A Long Term Natural Gas Crisis

Bottlenecks in the Permian have…

Samsung C&T awarded $3 billion Canadian contract

South Korea’s trading and construction company Samsung C&T Corp., has signed a $3 billion contract to construct wind and solar energy power plants in Canada.

According to the terms of contract with the government of Ontario province Samsung C&T will build 520 megawatt energy farms in the province’s Haldimand and Chatham-Kent southern regions and 550 megawatt complexes in Kingston and Bruce, Yonhap news agency reported. Under the contract terms, South Korea's state-run Korea Electric Power Corp. will also design the facilities’ electrical wiring and operate the plants.

Samsung C&T stated that the contract represents the first two steps of Canada's five-stage projects to build 2,000 megawatt wind farms and 500 megawatt solar power plants in the province and operate them for the next two decades. When complete, the Ontario energy farms are scheduled to supply electricity to 1.6 million households annually, with Samsung C&T beginning work on the first two steps of the project in 2012. Construction is projected to be complete by 2014.
 
In 2010 Samsung C&T Corp committed to invest $7 billion in Ontario under the province's Green Energy Act, a plan by the Liberal government to redirect the province off its primary source of energy, coal-fired power, towards renewable energy,
Samsung investment in Ontario is in exchange for $110 million in subsidies over the next 25 years that economists believe could generate up to 16,000 new jobs.

By. Joao Peixe, Deputy Editor OilPrice.com


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News