NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

November 18, 2009 08:30 ET

NaiKun Wind Project Advances to Next Step in Clean Power Call

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2009) - NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is pleased to confirm that its offshore wind energy project is moving forward in BC Hydro's Clean Power Call.

BC Hydro has provided an update on the Clean Power Call by posting a list of 47 proposals, including NaiKun Wind's project, which are under active consideration. The utility also indicated that 21 proposals are not proceeding further in the Call (www.bchydro.com/news).

"NaiKun Wind is pleased that our project continues to move forward in the Clean Power Call," said Paul Taylor, NaiKun Wind's President and CEO. "The NaiKun Wind project is well-advanced and provides significant economic and regional benefits."

NaiKun Wind also announced two other important steps forward for its project.

First, earlier this week, the Environmental Assessment Office referred NaiKun Wind's environmental assessment application to British Columbia's Minister of Environment and Minister of Energy, Mines and Petroleum Resources, marking the final stage in the certification process. A decision is expected from the provincial government before the end of the year. The NaiKun Wind project is one of the most advanced projects in the Clean Power Call with respect to the environmental assessment process.

NaiKun Wind has also selected its marine contractor for the project. The company has signed a Letter of Intent with MT Højgaard of Denmark (www.mth.com) covering the design, supply and installation of wind turbine foundations, scour protection and inter-array cables. MT Højgaard is a leading marine contractor for offshore wind energy projects in Europe.

"With these significant advancements, we are confident that the NaiKun Wind project is well-positioned in the Clean Power Call," said Taylor.

NaiKun Wind Energy Group Inc. (www.naikun.ca) is a British Columbia-based renewable energy company with offices in Vancouver, Masset and Skidegate. The 396 MW offshore wind energy project will generate enough energy to provide electricity to 130,000 B.C. homes, help the province reach its goal of becoming electricity self-sufficient by 2016, and play a significant role in combating climate change. The proposed project will also create an estimated 200 jobs during construction and 50 permanent jobs for maintenance and operations. NaiKun Wind is committed to working in partnership with First Nations and collaboratively with stakeholder groups and local communities in the development of its project.

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

Contact Information

  • NaiKun Wind Energy Group Inc. - Media Enquiries
    Doug McClelland
    Director, Communications
    604-631-4487
    dmcclelland@naikun.ca
    or
    NaiKun Wind Energy Group Inc. - Investor Relations Enquiries
    Peter Murray
    Manager, Investor Relations
    604-631-4494
    pmurray@naikun.ca
    www.naikun.ca