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Wednesday, July 19, 2017

Another Feel Good, Green Energy Company, Bites The Dust....

TILLSONBURG - The loss of 340 jobs at a factory that makes blades for wind turbines could be harbinger of troubles ahead in Ontario’s green-energy industry, a leading analyst says.
Siemens Canada announced Tuesday it’s closing its Tillsonburg plant, one of four Ontario green-energy factories set up under a controversial, multi-billion-dollar deal with Korean industrial giant Samsung.

Here's the money shot:

“I think it was always pretty obvious that whatever jobs were going to arise from the Green Energy Act were all temporary or almost all temporary,” Adams said, referencing the provincial law that paved the way for big wind farms in Ontario under contracts paying energy giants more than consumers pay for power.

“Samsung had no history in renewable energy before they came to Ontario. They came only for the subsidies, and when the subsidies dry up, they’ll disappear as quick as they landed,” said Adams, an independent energy and environmental advisor and researcher.


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