Green energy producer Canadian Hydro Developers Inc. announced plans Monday to acquire what it says will be the largest offshore wind operation in the world.

The 4,000-megawatt offshore wind prospect in Ontario will be acquired from U.S-based Wasatch Wind Inc. Financial details weren't disclosed.

The wind prospect to be acquired is located between five to 30 kilometres offshore in one of the Great Lakes bordering Ontario, although Canadian Hydro didn't identify the lake.

Multiple regulatory and environmental approvals will be required from the Ministry of Natural Resources before construction can proceed. When complete it will be able to supply enough renewable energy to power over two million homes.

Canadian Hydro anticipates the prospect will be built in stages with the first phase coming online by the fourth quarter of 2014.

"This is a tremendous growth opportunity for our company and our shareholders, and a perfect fit with our long-term strategy and position as a market leader in Canada," said Kent Brown, Canadian Hydro's chief executive officer. "We are eager to pioneer offshore wind in Ontario and North America."

Canadian Hydro has been fending off a $654-million hostile takeover offer from Calgary-based power generator TransAlta Corp., which has been extended several times since it was first made in July.

Wasatch Wind is a Utah-based wind project developer with activities throughout the western U.S. and Ontario. Its Canadian division is based in Windsor.