Construction has begun on the 180 MW Armow Wind project in Ontario. Project partners Samsung Renewable Energy Inc. and Pattern Development have also announced the completion of a C$580 million construction and term loan financing, which was secured with 10 financial institutions.
Located in the Township of Kincardine, the wind farm will utilize 91 Siemens 2.3 MW turbines, whose towers and blades will be manufactured in Ontario.
‘Siemens is proud to provide Ontario-made wind turbines for the Armow Wind power project," comments Jacob Andersen, head of wind power and renewables at Siemens Canada. ‘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."
Samsung and Pattern say the Armow Wind project is bringing strong economic benefits to the Kincardine community, including more than C$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 C$1 million to the Kincardine Airport to improve local operations.
‘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 C$2.5 billion of new investment in the province,’ says Mike Garland, CEO of Pattern Development.
Armow Wind has a 20-year power purchase agreement with the Ontario Power Authority and is expected to be completed in the fourth quarter of 2015