By Editors of Power Engineering
Siemens Gamesa Renewable Energy officials told employees of a wind turbine manufacturing plant in Tillsonburg, Ontario the plant would shut down by 2018.
Of the 340 employees currently working there, 206 of them were given notice immediately, CBC reported.
The company blamed changes in the global wind market, including competition and cost pressures, for the closure.
CBC noted that Siemens received a $673 million contract with the Ontario government for 140 wind turbines in 2014, though the next year Ontario Energy Minister Glenn Thibeault cancelled future renewable energy contracts to lower electricity costs, with the province subsequently announcing it would not need more wind turbines for at least another decade.
Siemens and Gamesa merged earlier this year, with Siemens shareholders receiving a 59 percent stake and Gamesa shareholders owning the remaining 41 percent.