Samsung Renewable Energy Inc. Pattern Energy Group LP and Capital Power LP are jointly building the K2 Wind Power Project in Goderich.
The developers successfully completed an $850 million financing, which was secured with 15 financial institutions in the form of a construction loan that will convert to long-term operational debt.
The 270 megawatt (MW) wind power project is hiring local workers and using Ontario-made products, including 140 wind turbine towers made in Windsor and blades manufactured in Tillsonburg.
In total, more than 1,000 workers from across southwestern Ontario will be involved in the manufacturing and assembly of the wind turbines, as well as site construction and operations.
Once operational in the second half of 2015, K2 Wind will generate clean power for about 100,000 Ontario homes each year. The project will create approximately 18 to 24 permanent full-time positions, generating about $1.5 million of employment income annually.