Samsung Renewable Energy and Pattern Energy have secured a C$580m ($516m) construction and term loan financing from 10 financial institutions.
Located in the Township of Kincardine, the Armow Wind project will feature 91 Siemens 2.3 MW wind turbines.
The project, which is expected to be completed in the fourth quarter of 2015, will generate enough energy for about 70,000 homes in Ontario.
The Ontario Power Authority will buy the energy generated from the project under a 20-year power purchase agreement.
Samsung C&T vice president Steve Cho said: "The Armow Wind project will create thousands of high-skilled jobs and millions of dollars in tax revenues and community benefits that will benefit real people in the community."
Ontario-made products will be used in the project including 91 wind turbine towers manufactured in Windsor and 273 blades made in Tillsonburg.
Siemens Canada head of wind power and renewables Jacob Andersen said: "This project further demonstrates the progress of the Green Energy Investment Agreement between Samsung and the Ontario Government and underscores the success of the Green Energy Act as part of the Province’s commitment to economic growth and environmental sustainability."
Pattern Energy CEO Mike Garland said: "We have now successfully financed and started construction on four wind projects in Ontario, totaling approximately 870 MW of wind power that has resulted in over $2.5 billion of new investment in the province."
Image: The Ontario Power Authority will buy the energy generated from the Armow Wind project under a 20-year power purchase agreement. Photo: Courtesy of dan/FreeDigitalPhotos.net.
