Katabatic Power Corp. has announced a joint venture with Deutsche Bank AG to develop the world's largest wind farm located in Northwest British Columbia (Canada).
Under the terms of the joint venture, Katabatic will develop the first 700MW of the full 3,000MW Banks Island wind resource over the next two years, with construction to commence in early 2009. The full 3,000MW project will be owned by Katabatic and Deutsche Bank AG through North Coast Wind Energy Corp., a subsidiary of Katabatic. Development efforts over the next two years will focus on project design, environmental permitting, turbine supply, and electricity purchase agreement acquisition. Total potential investment in the Banks Island wind resource is estimated at CAN$6 billion.
