Ontario’s decision to cancel or wind down 758 renewable energy contracts across the province will eliminate C$500 million ($380.1 million) in investment, according to the solar industry.

Energy, Northern Development and Mines Minister Greg Rickford said in a July 13 news release that the decision, which he estimated would save electricity ratepayers C$790 million ($600.5 million), was made to fulfill an electoral promise to reduce power bills. The provincial government has yet to provide a list...