Think Ontario if you are thinking green
The reason? Canada has the wisdom to properly regulate its banks. Banks there have plenty of cash on hand to lend to creditworthy consumers and businesses. TheyÂ’ll survive the global financial mayhem.
The recession north of the US border is expected to be painful, but brief, even shorter than that of the early 1990s. So short, in fact, its time to start thinking ahead, thinking about growth and thinking about renewable energy and electric cars.
The Ontario Power Authority (OPA), the regulatory agency responsible for ensuring a reliable, sustainable supply of electricity for Ontario, has just awarded not one, or two, or three, four or five, but six long-term contracts for power from wind energy projects. The contracts will lead to the construction of 500 megawatts of wind capacity and help Ontario in its goal to eliminate power generated from coal-fired power plants by 2014.
The wind farms will make jobs too. OPA expects 2200 direct and indirect jobs to be created. The direct jobs are those in the construction, management and maintenance of the wind farms. Indirect jobs will be in the manufacturing of building materials and services such as engineering design, legal, accounting and real estate.
Aside from the availability of clean power for Ontarians, landowners who host wind turbines are expected to receive about $3 million each year in lease payments. Municipalities will receive about $1 million per year in tax revenues.
Together the projects will cost about $1.32 billion. All of the projects are expected to be complete by 2012 and the power contracts are for 20 years.
Related News

Strong Winds Knock Out Power Across Miami Valley
MIAMI - On a recent day, powerful winds tore through the Miami Valley, causing significant disruption across the region. The storm, which was accompanied by gusts reaching dangerous speeds, led to widespread power outages affecting thousands of homes and businesses. As trees fell and power lines were snapped, many residents found themselves without electricity for hours, and in some cases, even days.
The high winds, which were part of a larger weather system moving through the area, left a trail of destruction in their wake. In addition to power outages, there were reports of damage to buildings, vehicles, and other…