NaiKun Wind Energy Group Inc.

NaiKun Wind Energy Group Inc.

March 21, 2007 16:15 ET

NaiKun Signs Strategic Partner Agreement With ENMAX Corporation

Leading Canadian energy company purchases position in NaiKun Wind Energy Group and will investigate a strategic alliance in 320MW Phase 1 project in northern British Columbia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2007) - Michael C. Burns, Chairman of NaiKun Wind Energy Group Inc. ("NaiKun") (TSX VENTURE:NKW), announced today that NaiKun has entered into an agreement with ENMAX Corporation ("ENMAX") to invest in NaiKun and to work together with the company in several strategic areas of the company's development of the 320MW Phase 1 wind energy project in the Hecate Strait.

Under the terms of the Agreement, NaiKun will receive consideration of $2,000,000 from ENMAX in exchange for certain NaiKun assets and obligations:

- 1,097,562 common shares in NaiKun Wind Energy Group at a price of $1.36 per share.

- 500,000 common shares of NaiKun Generation Company Inc. ("GenCo") representing 50% of GenCo. GenCo is a NaiKun subsidiary that has the exclusive right to install the generation facilities of the Phase 1 project. GenCo will be responsible for project financing and construction and will own the 320MW Phase 1 generation asset.

- In addition, NaiKun and ENMAX have agreed to explore opportunities to optimize the mutual benefit from the project, including emission credit marketing and provision of professional services to the project by ENMAX.

- A senior ENMAX representative will be nominated as a director of NaiKun Wind Energy Group Inc. at NaiKun's Annual General Meeting on March 30th.

"Involving a proven world-class utility like ENMAX is a major step forward for the NaiKun project," said Mr. Burns. "ENMAX owns and develops wind energy assets, has experience securing energy purchase agreements in British Columbia and most importantly, endorses our view of the potential for wind energy and for the Haida Energy Field to help meet the province's long-term electricity requirements," Burns added.

Ray Castelli, President of NaiKun Wind Development Inc., commented, "ENMAX is a welcome addition to the NaiKun team. ENMAX is well qualified as a Strategic Partner on our project. ENMAX is the largest green marketer in Canada, has been an active energy market participant in Western Canada for several years, owns generation assets in British Columbia and is in the process of building more. ENMAX also has wind energy assets in Alberta and has substantial BC-related transmission expertise. They will provide an important dimension to our bid to BC Hydro and bring experience to our future operations."

"ENMAX believes that NaiKun has done an excellent job in developing the project to this point in time," said ENMAX President and CEO Gary Holden. "We believe that the attributes of both NaiKun and ENMAX are complementary and will ultimately deliver a successful project," he added.

NaiKun Wind Energy Group Inc. is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. Its stock symbol is NKW. Since 2000, the company has focused on renewable energy and is now concentrating on development of a major wind farm in British Columbia's Hecate Strait. Interested parties are invited to visit the company's website at

ENMAX Corporation and its predecessors have provided Albertans with safe and reliable electricity for 100 years. ENMAX provides electricity, natural gas, renewable energy and value-added services to residential, commercial and industrial customers in Alberta through its subsidiary companies. ENMAX Energy is one of Alberta's largest investors in renewable energy assets with 100 per cent ownership of output from the McBride Lake Wind Farm and Taber Wind Farm and has interests in four British Columbia green energy projects. ENMAX Energy has the largest green power marketing program of its kind in Canada and in 2006 received the Consumer Champion Award for its ground-breaking EasyMax™ program.

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

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