NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

August 07, 2008 08:00 ET

Metlakatla and NaiKun Complete Commercial Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2008) - NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is pleased to announce it has completed a commercial agreement with the Metlakatla First Nation regarding transmission routing for the proposed NaiKun Offshore Wind Project.

The proposed project is located in Hecate Strait on B.C.'s northwest coast, with a planned transmission interconnection point south of Prince Rupert in the traditional territory of Metlakatla. The agreement provides Metlakatla with certain economic and financial benefits and NaiKun with transmission access for the project.

"We are delighted to be working with the Metlakatla First Nation who are known for their leadership in environmental stewardship," said Michael C. Burns, NaiKun Chairman. "We share a commitment to sustainable economic development in the region and will collaborate to identify and enhance the opportunities for employment and skill development. Our agreement ensures the Metlakatla First Nation will be in a position to participate in British Columbia's emerging wind energy industry."

The agreement is contingent upon NaiKun obtaining environmental assessment (EA) certification. Currently, NaiKun is conducting comprehensive environmental studies which will form the basis of the application for an environmental assessment certificate.

Metlakatla Chief Harold Leighton said of the project, "We are pleased to support Canada's first offshore wind project, an important economic and environmental resource development. The NaiKun project has great potential to combine clean energy development with long-term economic growth, particularly for north coast communities."

NaiKun will be bidding into BC Hydro's 2008 Clean Power Call, due on November 25. For this call, NaiKun is submitting Phase 1 of its proposed wind farm - a 320 MW project which will supply 120,000 B.C. homes with clean electricity.

NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a Vancouver-based renewable energy company that is traded on the TSX Venture Exchange. Its subsidiary, NaiKun Wind Development Inc., is engaged in the development of an offshore wind project in Hecate Strait off the coast of British Columbia. For more information, please visit www.naikun.ca.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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