When the McGuinty government announced its signature Green Energy Act in 2009, John Kourtoff was one of many business leaders who had been lined up to offer unqualified support. “The Green Energy Act will serve as a turning point in Ontario’s economic history,” said Mr. Kourtoff, who as president and chief executive of Trillium Wind Power Corp. was not exactly an impartial observer.
In a release sent out by the Ministry of Energy, he said, generations from now, the new legislation would be recognized for “pro-actively moving Ontario to a new paradigm that was good for the pocketbook and good for the planet.” He is less enthused about the governing Liberals today. “Basically, they are saying that anyone who trusts them is foolish,” he said after a court heard arguments in his company’s lawsuit against the government after it cancelled all potential offshore wind turbine developments, citing the need for further study of their effects.
Mr. Kourtoff contends Trillium Wind invested thousands of dollars to secure development rights for several offshore projects. The government courted his business to the extent of paying for him to travel to Britain twice to tout the merits of the new legislation, which guaranteed heavily subsidized rates for renewable energy. Now, he maintains, Ontario has essentially said it always reserves the right to change its mind on policy matters. Those are the risks of doing business with it. Caveat investor. Read article