NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

January 28, 2008 06:30 ET

NaiKun Announces Key Additions to Bid Advisory Committee for BC Hydro Clean Power Call, Executive Resignation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2008) - NaiKun Wind Energy Group Inc. (NaiKun) (TSX VENTURE:NKW) announced significant additions to its Bid Advisory Committee today with the appointment of three senior advisors.

NaiKun Chairman, President and CEO, Michael C. Burns said of the appointments, "Bid preparation is an important phase for NaiKun and we are fortunate to have gained the expertise and talents of our new advisors during this exciting period. The diverse experience of the team we have assembled will ensure NaiKun submits the highest quality bid."

Joining the Bid Advisory Committee:

- Peter Besenovsky joins as Senior Advisor, Turbine Supply. Mr. Besenovsky is a partner at Sage Stone LLC with significant experience in the finance, structuring and development of power projects, particularly North American wind projects. Recently, Mr. Besenovsky acted as a senior advisor to ENMAX Corporation for the development, life cycle cost evaluation and wind turbine generator selection for the Taber Wind Project in Southern AB. He has also been involved with numerous due diligence reviews of wind projects, including the financing for the Bear Mountain Wind Farm in the Peace Region of BC. He has worked with multiple architectural engineering firms in North America and Germany. Mr. Besenovsky has led the start up and growth initiatives of several development companies, including Westcoast Power Inc. where he was VP Engineering and Development. Mr. Besenovsky holds a BScME and MBA, is a registered Professional Engineer.

- Fereydoun (Fred) Dabiri, P.ENG will serve as Senior Advisor, Engineering. Mr. Dabiri is President and CEO of David Nairne and Associates Ltd., a BC based architectural, planning and engineering firm. He leads and coordinates the activities of the engineering, architectural and project management team. Since February 2004, he has been a director of NaiKun Wind Development Inc., a wholly owned subsidiary of NaiKun Wind Energy Group and was recently elected as a director of NaiKun Wind Energy Group.

- Scott Woronuik takes on the role of Senior Advisor, Transmission. Mr. Woronuik presently serves as Vice-President of Business Development for ENMAX Corporation and has over 20 years of energy industry experience. Previously, Mr. Woronuik was President and Chief Operating Officer of Eaton Hydro Developers, an independent power producer in British Columbia that ENMAX acquired in 2007. He has also worked with large public utilities, formerly serving as Vice President of Business Planning and Strategy for the British Columbia Transmission Corporation (BCTC).

"NaiKun has accomplished a great deal over the past year, securing the support of industry leaders, First Nations agreements, installing a meteorological station at the project site and growing our executive team and board of directors. We are well positioned for the upcoming Clean Power Call. I am pleased to have expanded our bid advisory committee and expect our momentum to continue," said Mr. Burns.

NaiKun also announced the resignation of Ray Castelli, Executive Vice President and director of NaiKun Wind Energy Group and President of the subsidiary NaiKun Wind Development Inc. effectively immediately. Mr. Castelli is pursuing a new opportunity.

Mr. Burns noted, "For the past 15 months, Mr. Castelli has headed up the development company and brought a high level of professionalism and skill to many areas of the business. Mr. Castelli guided NaiKun through a significant period of growth, bringing in new talent, advancing negotiations with First Nations and preparing NaiKun for the Clean Power Call. Mr. Castelli is moving on to another challenge and we wish him well".

"We have an excellent team in place to ensure a smooth transition. All aspects of the project's development from site engineering, transmission planning, design and construction continue to steadily progress. An executive search has been initiated and we are pleased with the level and caliber of interest in the position. Mr. Castelli will continue his association with the company as an advisor and a financial stakeholder. The Board will welcome his continuing advice," concluded Mr. Burns.

NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. Since 2000, the company has focused on renewable energy. Its subsidiary, NaiKun Wind Development Inc., is engaged in the development of a major offshore wind project off the coast of British Columbia in an area known as the Haida Energy Field. Interested parties are invited to visit the company's website at www.naikun.ca.

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

Contact Information

  • NaiKun Wind Development Inc.
    Sara MacIntyre
    Director, Public Affairs and Communications
    (778) 868-4363
    Email: smacintyre@naikun.ca
    or
    NaiKun Wind Group
    Michael C. Burns
    Chairman
    (604) 639-8460 Ex 100
    Website: www.naikun.ca
    or
    Contact Financial Corp.
    Peter Murray
    Investor Relations
    1-866-689-7422
    Email: pete@contactfinancial.com