Province lands most renewable energy projects in North America
TORONTO: Ontario has landed the most renewable energy projects in Canada’s provinces or the US states, according to a recent report by fDi Intelligence.
The report by the foreign direct investment intelligence division of the London, UK-based publisher of the Financial Times notes Ontario landed 11 contracts in the sector.
Energy was a major area of capital investment in North America, with renewable energy, coal, oil and natural gas accounting for 34% of FDI dollars in 2011, with renewable energy attracting US$12 billion.
Ontario, California, New York and Texas attracted 33% of FDI projects that came to North America in 2011. California captured 229 projects followed by New York with 150.
In the sector, Ontario ranked third in information and communication technologies with 29 FDI projects, behind California and New York. It ranked fourth in life sciences, with seven projects.
The US was the largest source of FDI projects in Ontario, providing 52% of them. Germany, China, France, the UK and Japan accounted for 25%.
Ontario attracted more foreign capital investment last year than any North American state or province except Alberta, according to the report.