The CEO of wpd has written an open letter to Ontario Premier Doug Ford after word the provincial PC government is aiming to cancel its White Pines project in Prince Edward County.
In the letter obtained by Quinte News, Hartmut Brosamle notes that the German-based company employs more than 600 people in 20 different countries and relies on various forms of project financing including from banks and other investors.
In the case of the White Pines project, he says, the City of Munich is a co-investor.
Brosamle reiterates that if the White Pines project is cancelled, it would cost the company $100 million, which would be a “difficult situation for a company of our size to cope with”.
He says since becoming active in Ontario in 2007, the company has complied will all of the regulatory framework, created new jobs and paid its taxes and that while any new government has the right to pursue a different energy policy, it would be unfair to cancel this project retroactively, based on the negative impact the decision would have on the company.