NaiKun Wind Looks to Success Beyond Clean Power Call

NaiKun Wind submitted a wind farm proposal to BC Hydro in November 2008 for a 396 MW offshore wind energy project to be built in the Haida Energy Field in Hecate Strait off British Columbia’s northwest coast.

‘We are obviously very disappointed with the outcome and will seek discussions with BC Hydro to fully understand its decision and determine the most effective path forward for the project,’ said Paul Taylor, NaiKun Wind’s President and CEO. ‘We firmly believe that projects of our scale and advanced degree of development are necessary for B.C. to reach its electricity self-sufficiency objective and climate change goals and to meet future demand growth.’

The Government of British Columbia has set the course for continued growth in the province’s renewable energy sector, announcing earlier this year that a Clean Energy Act will be presented to the legislature in the current sitting. The Act is intended to establish a fair, predictable contract procurement process as part of a comprehensive strategy to put B.C. at the forefront of clean energy development. A framework for power exports is also anticipated in the legislation, which points toward significant procurement of power from new sources including larger generation facilities such as NaiKun Wind’s project.

‘Our project is at an advanced stage of development including areas such as First Nations partnerships, environmental approvals, project planning, equipment resourcing and wind resource evaluation,’ added Taylor. ‘Working with ENMAX, First Nations and key suppliers such as Siemens Canada, we look forward to discussing with BC Hydro and the Provincial Government how the 396MW project and the Haida Energy Field will fit into the province’s clean energy strategy and electricity procurement plans.’

NaiKun Wind continues to work with the Federal Government on the completion of its environmental review process for the project. The Company also continues to assist the Haida Nation in its effort to secure support from the Federal Government that would enable the Haida Nation to become one of the generation project’s equity owners.

In addition to advancing the offshore wind project, NaiKun Wind is pursuing the acquisition of other renewable energy assets in order to diversify the Company’s risk profile and secure near-term revenue.