Samsung and co get $850m loan for wind farm

Samsung, Pattern Energy Group and Capital Power have started construction on a 270MW wind farm in Canada after securing funding worth $850 million (£515.3m). The K2 Wind Power Project near […]

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By Priyanka Shrestha

Samsung, Pattern Energy Group and Capital Power have started construction on a 270MW wind farm in Canada after securing funding worth $850 million (£515.3m).

The K2 Wind Power Project near Goderich, in southern Ontario, will consist of 140 turbines – generating enough clean electricity to power around 100,000 households. It is also expected to create up to 24 full time jobs.

The firms claim the project will also provide financial benefits to around 90 local farm families, who will collectively receive more than $3.2 million (£1.94m) in annual revenue through land lease agreements and other benefits.

Mr. K.J. Kim, Senior Vice President, Samsung C&T said: “Samsung is proud to be working with the community and our partners on the construction of this project. The K2 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.”