This week, a consortium led by Samsung C&T Corporation and the Korea Electric Power Corporation (KEPCO) announced that it plans to invest CAN $7 billion to generate 2,500 megawatts of wind and solar power in Ontario, Canada.
According to the terms of the green energy investment agreement, Samsung C&T and KEPCO will establish and operate a series of wind and solar power clusters over the next 20 years. The clusters, which will be built in several locations throughout the province, will eventually include wind turbines that will generate up to 2,000 MW as well as solar power facilities that will generate up to 500 MW.
The entire project will have a combined power-generating capacity of 2.5 GW by 2016, producing energy equivalent to four per cent of Ontario`s total electricity consumption.
Which of these things will happen first: pigs flying, creating water out of thin air, or the Chicago Cubs winning a world series? Some of you might have guessed the third option, but you would be wrong. Steve Bartman, anyone?
Element Four, a small Canadian firm, has applied its water technology to create the WaterMill, a novel electricity-powered machine that draws moisture from the air and purifies it into clean, drinkable water.
In a world where one out of five people are without access to clean drinking water, this new technology could potentially improve the lives of billions of people from third-world countries.
The WaterMill, which retails at $1300, is intended for household use only, but the company is designing a larger version called the WaterWall for the developing world, which would be large enough to supply water to a small village.
It’s early, but the company’s core principle is “to do good as we do well,” CEO Rick Howard says. “That’s part of truly what drives us — knowing that at some point we will be able to do some significant good.”
Read more at CNN online.
The U.S. Department of the Treasury and the U.S. Department of Energy on Thursday announced that an estimated US $3 billion will be made available for the development of renewable energy projects around the country and made issued the guidance businesses will need to submit a successful application.
Funded through the American Recovery and Reinvestment Act (Recovery Act), the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities.