NaiKun Wind Development Inc.

NaiKun Wind Development Inc.
NaiKun Wind Energy Group Inc.

NaiKun Wind Energy Group Inc.

April 04, 2007 19:11 ET

NaiKun Applauds New Federal ecoENERGY Program

Renewable power incentive program recognizes energy potential of offshore wind

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2007) - NaiKun Wind Development Inc. ("NaiKun") (TSX VENTURE:NKW) applauds the Federal government for the release of its new ecoENERGY for Renewable Power program. The details of this program, which were announced by Prime Minister Harper in British Columbia this past February, were made available earlier this week.

The Renewable Power program provides for a one cent per kilowatt hour incentive for up to 10 years for renewable, clean energy programs built by 2011. The program commits $1.48 billion to support the advancement of renewable energy sources and has the potential to assist in the development of enough generating capacity to power one million homes.

"This program will help renewable energy projects advance to electricity production. It is a concrete measure to help build clean energy sources, like wind, in Canada," said NaiKun President and CEO Ray Castelli.

A key new feature of the federal program is a specific reference to the energy potential of offshore wind when compared to onshore wind and other renewable energy alternatives. The maximum allowable capacity factor for offshore wind has been increased to 42% as compared with 35% for onshore wind projects. This is significant in that this maximum capacity factor has a bearing on the incentive calculation and is also recognition that offshore wind energy has the potential for higher energy output per installed MW of capacity.

"One of the key benefits of offshore wind is the potential for a higher capacity factor and we are delighted that the Federal government has considered this potential in designing the new program," added Mr. Castelli. "We applaud Minister Lunn and Minister Baird for their initiative in developing this program and for their willingness to work with companies like NaiKun and industry associations such as CANWEA to develop the most effective program possible," he concluded.

NaiKun Wind Development Inc. has been engaged in wind energy development in the Haida Energy Field off the coast of British Columbia since 2001. When fully operational, its five-phase 1,750 MW NaiKun Wind Farm will generate enough electricity to power 600,000 homes. Construction of Phase I is expected to begin in 2009. NaiKun Wind Development Inc. is a wholly owned subsidiary of NaiKun Wind Energy Group Inc. (NKW). Interested parties are invited to visit the company's website at

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

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