RICHMOND, British Columbia, Jan. 12 Katabatic Power Corp. announced Friday a joint venture with Deutsche Bank AG to develop what will be the largest wind farm in the world, located in British Columbia.Katabatic, a private Canadian wind energy company, has two years to develop 700 megawatts of the 3,000 megawatt wind farm called Banks Island. Construction is slated to begin in 2009 and the resource will aid British Columbia in its goal to become energy self-sufficient.The completed $5 billion project will be co-owned by Katabatic and Deutsche Bank AG through North Coast Wind Energy Corp., a subsidiary of Katabatic. Design, environmental permitting, turbine supply, and electricity purchase agreement acquisition is what Katabatic is in charge of over the next two years.The Banks Island Wind Farm is a rare find and the joint venture with Deutsche Bank is a vote of confidence in the resource and Katabatic Power, said Anthony Duggleby, chief executive officer of Katabatic. We have a world-class wind resource that's typically only found offshore, but here we get to work onshore, with good topography and straightforward logistics for construction and turbine delivery - it's a wonderful opportunity.Copyright 2007 by UPI
