Ontario cuts Samsung group's green-subsidy pot by $340m

The Ontario government has renegotiated its controversial C$7bn green-energy agreement with a South Korean consortium led by Samsung C&T, saying the move will save taxpayers C$327m ($340m).

The amended deal comes as the government faced criticism from political opponents, and local business and consumer groups, over the generosity of the terms on offer to the consortium under the existing arrangement.

The original deal, signed in January 2010, called for the South Koreans to build 2.5GW of solar and wind projects in five stages in the Canadian province, support both industries with four new component-production facilities, and create 16,000 direct and indirect jobs there. So far about 600 full-time positions have been created.

In return, the Liberal government of Premier Dalton…

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