Energy & Power
180MW Armow Wind Project secures $580 million financing
November 3, 2014 By Anthony Capkun
November 3, 2014 – Samsung Renewable Energy Inc. and Pattern Energy Group LP they have completed $580-million construction and term loan financing, and construction has begun on the Armow Wind power project in Ontario.
“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,” said Mike Garland, CEO of Pattern Development.
Located in the Township of Kincardine, the 180MW project will employ more than 200 Ontario workers and Ontario-made products, says Pattern, including 91 wind turbine towers made in Windsor and 273 blades manufactured in Tillsonburg.
Expected to be completed in Q4 2015, the project will utilize 91 Siemens 2.3MW wind turbines. Armow Wind has a 20-year power purchase agreement with Ontario Power Authority (OPA).
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