Ontario bolsters green support as Europe backs off

The Canadian province of Ontario is becoming a magnet for global heavy hitters in the green energy sector, drawn by alluring subsidies at a time when incentives are being scaled back elsewhere.

Already this year, two prominent players -- South Korea's Samsung C&T Corp and Bosch Solar Energy AG -- have said they will set up shop, and more are expected to follow.

Provincial government support is attractive, but so is the prospect of manufacturing on the doorstep of the United States, Canada's neighbor and one of the fastest growing markets for producers of power from the sun, wind, and biomass.

"People are looking at the North American market as the next growth area," said Mehdi Hosseini, an analyst at FBR Capital Markets in San Francisco.

For further information: Reuters