C$500M in Solar Investments Lost as Ontario Cancels Contracts

July 13, 2018, 9:37 PM

Ontario’s decision to cancel or wind down 758 renewable energy contracts across the province will eliminate C$500 million ($380.1 million) in investment, according to the solar industry.

Energy, Northern Development and Mines Minister Greg Rickford said in a July 13 news release that the decision, which he estimated would save electricity ratepayers C$790 million ($600.5 million), was made to fulfill an electoral promise to reduce power bills. The provincial government has yet to provide a list of the companies but said all the projects missed development milestones.

“For 15 years, Ontario families and businesses have been ...

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