CONSTRUCTION will begin on a $50 million wind farm at Coonooer Bridge in July. 

The six turbine project was given the green light after securing funding from a major Japanese investor on Monday.

The wind farm will supply power to about 14,000 Canberra homes as part of the ACT's plan to source 90 per cent of its energy needs from renewable sources by 2020.

Under the agreement, Eurus Energy Holdings will own 80 per cent of the development, with the remainder owned by Australian renewables company Windlab and about 30 Coonooer Bridge residents.

The wind farm is expected to generate about 80,000 megawatt hours of electricity each year.

Construction is expected to be complete by early 2016. The construction phase will provide jobs for about 70 people. 

Windlab chief executive officer Roger Price said this project demonstrated the “enormous opportunity and benefit” provided by renewable energy.

Mr Price said the site south of Charlton was chosen for its strong and consistent winds.

“This is a win-win for the local community which wholeheartedly supports this development, for our company, for the residents of the ACT and all who support renewable energy," he said.

Eurus president Masami Shimizu said Coonooer Bridge was one of the best sites in Australia for a wind farm project.

“By taking advantage of this natural occurrence we can provide low cost energy to thousands of Australian homes," he said.