The Peace River Hydro Partners consortium includes Acciona Infrastructure Canada with 37.5% interest, Petrowest 25% and Samsung C&T Canada 37.5%.
Under the contract, valued approximately CAD$1.75bn ($1.2bn), the Acciona-led consortium will be responsible for the construction of an earth fill dam, two diversion tunnels and a roller-compacted-concrete foundation for the generating station and spillways.
The contract is expected to create over 8,000 jobs over the eight-year period.
Acciona Infrastructure Canada president Darren Sokoloski said: "Acciona is proud that our joint venture was selected by BC Hydro to build one of the largest infrastructure projects in Canada."
Canadian electric utility BC Hydro will own and operate the project upon completion, which is scheduled by 2020.
Petrowest president and CEO earlier said: "Peace River Hydro Partners are excited to be part of building a legacy project that will benefit British Columbians for generations to come."
Estimated to cost around C$8.3bn ($6.23bn), the project is designed to have an annual generating capacity of 5,100GWh of clean and renewable electricity.
With an expected operational life of 100 years, the Site C project represents the third dam on the Peace River. The two existing dams include W.A.C Bennett and the Peace Canyon dam.
Additionally, ratepayers would save an average of $650m to $900m annually over the first 50 years of operational life of the project.
Image: Illustration of Site C hydroelectric project. Photo: courtesy of Acciona.
