Ontario Government Announces Amendments to Samsung Deal

The Government of Ontario has announced that it has renegotiated a deal, initially signed in January 2010, with Korea’s Samsung C&T Corporation and the Korea Electric Power Corporation to build manufacturing plants to develop clean wind and solar projects. Under the revised agreement, Samsung will get a one-year commercial operation data extension, and economic development payments will be reduced to a maximum of $110 million. The revised agreement will see four clean-technology manufacturing plants open a year earlier than originally expected.