The Samsung deal involves the investment of C$7 billion over six years in renewable energy development and manufacturing in the province.
It will receive Ontario’s feed-in tariff (FIT) rates for the power, equivalent to C$0.135/kWh for wind and C$0.443/kWh for solar.
Hudak also said he would honour existing FIT contracts but would not offer any new deals as they meant higher costs for the consumer.
In response, CANwea president Robert Hornung said Hudak was wrong to blame the FIT scheme for price rises as only a few projects are currently operating under the scheme.
The Samsung deal includes the installation of 2GW of wind energy and the establishment of factories to produce turbine towers and blades.
The consortium, which also includes the Korea Electric Power Corporation, will begin installation of the wind farms and 500 MW of solar projects in 2012.