Samsung Renewable Energy and Pattern Development has completed the C$580 million construction and term loan financing, secured with 10 financial institutions, for Armow Wind Project in Ontario.
Located in the Township of Kincardine, the 180 megawatt (MW) Armow Wind power project will utilize more than 200 Ontario workers and Ontario-made products, including 91 wind turbine towers made in Windsor and 273 blades manufactured in Tillsonburg.
The Armow Wind project is also facing legal hurdles due to opposition from locals.
According to media reports, four families living in the region have challenged the construction of wind farm arguing that the approvals process violates their constitutional rights given the potential impact on their physical and emotional health and want the project permits yanked.
However, construction has begun and is expected to be completed in the fourth quarter of 2015. The project will utilize 91 Siemens 2.3 MW wind turbines. Armow Wind has a 20-year power purchase agreement with the Ontario Power Authority (OPA).
“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,” said Mike Garland, CEO of Pattern Development.
“Armow Wind will create new jobs, generate millions in local lease payments and property taxes, improve the local airport, and create a community benefits fund that will support local initiatives in the community of Kincardine for decades to come,” Garland added.
The project, which is expected to be completed in the fourth quarter of 2015, will utilize 91 Siemens 2.3 MW wind turbines. Armow Wind has a 20-year power purchase agreement with the Ontario Power Authority (OPA).
According to Jacob Andersen, head of Wind Power and Renewables, Siemens Canada, the project underscores the success of the Green Energy Act as part of the Province’s commitment to economic growth and environmental sustainability.
The Armow Wind project will generate enough clean energy to power approximately 70,000 Ontario homes based on average annual residential energy use in Ontario. The project is also expected to bring strong strong economic benefits to the Kincardine community, including more than $75 million over 20 years in property taxes, landowner lease royalties and community benefits.
The project will fund a long-term community benefits program, which will support education and other initiatives, including a contribution of $1 million to the Kincardine Airport to improve local operations.