Sunday, October 4, 2009

Sustainable Finance for Ontario: Creating More Jobs

Ontario is all set to become a leading North American province with its new green energy rules. This new act is being predicted to generate thousands of jobs in Ontario’s green economy. It will also provide a stable platform for investors and companies from all over the world that are looking for green investment opportunities.

The government is in talks with Samsung and South Korean electronics for the establishment of renewable energy business within the province. The global recession resulted in shedding of thousands of jobs from the manufacturing sector of Ontario but this new energy act might prove beneficial in creating more jobs and attracting sustainable investment. The green energy act will have a feed-in-tariff program that will allow business organizations and individuals sell renewable energy like landfill gas, wind, biomass and solar at set rates into the grid. It will also include regulations to set new wind turbines at a certain distance from homes and other properties. A renewable energy facilitation office will also be set up in Ontario from where future renewable energy projects for the province will take off.

It is notable that Ontario is the leading province of Canada in wind power. The electricity produced is enough to power approximately 300,000 homes. The green energy act will also aid Ontario in elimination of coal fired power by 2014.

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