Katabatic Power, the developers of the proposed Mount Hays Wind Farm, took a huge step in making the project a reality last week with the purchase of the wind turbines that will sit atop Mount Hays.
Under the terms of the deal, which represents a value of between $35 million and $80 million Canadian when all options and maintenance agreements are considered, Montreal based AAER will deliver 17 of its 1.5 megawatt turbines to Katabatic Power in the last quarter of 2007 and AAER will provide service and maintenance to the turbines for the first six years they are in operations.
As well, Katabatic Power retains the option to purchase an additional 17 turbines from the company in 2008.
It is expected that the regulatory requirements for the Mount Hays site will be in place in February with construction set to begin in mid-2007. It is expected the project will begin operations in November of next year.
As well as the Mount Hays project, which will be the first commercial wind farm in the province, Katabatic is in the initial stages of developing one of the world’s largest wind energy facilities on Banks Island in the Hecate Strait and is hopeful to break ground on that project in 2009.
“Over the next decade, Katabatic’s core business will focus on developing British Columbia’s significant wind resources, and partnering with a strong turbine manufacturer like AAER is a critical component of our growth strategy,” said Jonathan Raymond, Chief Operating Officer of Katabatic Power.
Katabatic Power has a 25 year agreement to provide power to B.C. Hydro from the Mount Hays project, which will produce 25.5 megawatts of power once fully operational.
By Shaun Thomas
The Northern View
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