In order to pay for its share of the anticipated $313.5m construction bill, Toronto-listed Algonquin separately announced that Emera, its largest shareholder, has agreed to buy C$70m ($64.3m) worth of “subscription receipts”, which are convertible into Algonquin shares.

Tax equity investors will provide $190.8m of equity financing towards Odell, according to Algonquin.

The Odell wind farm is slated for commissioning in late 2015, and will use 100 Vestas V110-2.0