NaiKun Wind Energy Group Inc.

NaiKun Wind Energy Group Inc.

March 19, 2009 08:30 ET

NaiKun Wind Announces Results From Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2009) - NaiKun Wind Energy Group Inc. ("NaiKun Wind") (TSX VENTURE:NKW) held its Annual General Meeting in Vancouver on March 18, 2009.

The following were re-elected to NaiKun Wind's Board of Directors:

- Michael C. Burns

- Fereydoun (Fred) Dabiri

- Joseph S. Houssian

- Philip G. Hughes

- Kenneth McCready

- Paul Taylor

- David Rehn

- Steven A. Sanders

- Graham Wilson

KPMG LLP, Chartered Accountants, were appointed as auditors of the company.

Speaking at the meeting, NaiKun Wind Chair Michael C. Burns said, "The membership of NaiKun Wind's Board of Directors is one of the company's greatest assets. The Board members have broad experience in planning, development, financing, construction and operation of major infrastructure projects."

"On behalf of the shareholders and team members at NaiKun Wind, I would also like to extend my appreciation and best wishes to Michael Altman and Gary Holden who are leaving our Board at this time," said Burns. "Michael Altman was part of the founding team that redirected the predecessor company from the oil and gas sector to wind energy. Gary Holden came to the Board when ENMAX Corporation became a partner on the project. As we transition from the development phase to the construction preparation phase we are privileged to have Dave Rehn on our Board, ENMAX's Executive Vice President for Generation and Wholesale Energy, who brings extensive experience in the construction and operation of power generation facilities."

The balance of 2009 will be particularly active for NaiKun Wind, beginning with the submission of its application for an Environmental Assessment Certificate, which will be followed in the spring by a public comment period and continued consultation and discussions with stakeholders and local communities. The process is scheduled to result in the granting of a Certificate by the end of 2009.

NaiKun Wind expects to be advised mid-year on BC Hydro's selection of successful proponents in the Clean Power Call, with the signing of an Electricity Purchase Agreement shortly thereafter. In preparation, the company is advancing logistical analyses and various discussions with suppliers and contractors to ensure that Phase 1 construction timelines are met. As well, the company is working to bring in a second strategic partner as per its original plan and working toward Phase 1 project financing.

NaiKun Wind has signed formal agreements with local First Nations, and continues to enjoy support across the province. A public opinion poll conducted in September for NaiKun Wind by the Mustel Group indicated 73 per cent of British Columbians support the project.

NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a British Columbia-based renewable energy company, traded on the TSX Venture Exchange. The first phase of the NaiKun Wind 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 combatting climate change. The 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. Additional information is available at

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

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

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