Cancellation of German-owned Ontario wind project prompts warning from Berlin
Ontario’s move to cancel the contract of a German-owned wind energy project represents a black mark for the province in the eyes of foreign investors, Berlin’s ambassador to Canada, Sabine Sparwasser, warned Monday.
The German government and multinational companies have taken note of Premier Doug Ford’s decision to pull the plug on wpd AG’s White Pines wind project in Prince Edward County, as well as the bill now before the legislature that will allow the province to set limits on what compensation is provided, Ms. Sparwasser said in a telephone interview.
“Obviously, every incoming government has the right to change policy direction,” she said. “But to have a unilateral cancellation pushed through by law that way is unsettling for the company, but is also something that will unsettle other potential investors."
No comments:
Post a Comment