Work on the project commenced after the company secured a $360m financing facility.
KeyBanc Capital Markets and KeyBank National Association served as joint lead arranger and administrative agent for the loan.
SunEdison and construction company Reed & Reed will work together to construct the facility.
New England utilities including Eversource, National Grid, and Unitil will purchase the power generated from the wind farm, under 15-year power purchase agreements.
SunEdison Americas and Europe, the Middle East and Africa (EMEA) executive vice-president Paul Gaynor said: "The Bingham wind farm is our largest wind project in Maine, and once completed should bring our total wind-generation capacity in the state to 552MW.
"SunEdison has made a major commitment in Maine’s renewable energy future, and that commitment creates new local jobs and incremental tax revenues for the state, as well as long term stable and competitive electricity prices for rate payers."
The project is designed to produce electricity to power more than 65,000 homes.
Reed & Reed president Jackson Parker said: "The Bingham project brings reliable, renewable energy at low costs to the consumer and creates more than 400 local construction jobs for the people of Maine."
The project is on the Call Right Projects List for TerraForm Power. Upon completion in 2016, the facility will be acquired by TerraForm.
SunEdison Services will manage operations and maintenance of the power plant.
