The 300MW Wolfe Island Shoals project would be located on Lake Ontario. However, the Ontario government stopped offshore development in March after deciding further scientific study was necessary.
In an interview with the Canadian press, Windstream said it still hoped construction would begin as early as 2014.
The company pointed out Ontario is locked into the fit contract due to protections the Liberal government put in place.
Although engineering work on the project has been suspended, environmental assessments are ongoing. Windstream is also looking at local manufacturers in order to meet its 50% supply obligation.
The Ontario government is currently in a legal dispute with Trillium Power over the decision to halt offshore development.
Trillium, which was in the process of planning a 450MW project on Lake Ontario, has filed a claim against the provincial government with the Ontario Superior Court for C$2.25 billion (US$2.2 billion).
Earlier this month, the New York Power Authority (NYPA) cancelled plans to build a 150MW offshore wind farm on either Lake Erie or Lake Ontario. After reviewing initial submissions the NYPA decided it was too expensive.