NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

March 10, 2009 08:30 ET

NaiKun Wind Signs Agreement With Prince Rupert Port Authority

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2009) - NaiKun Wind Energy Group Inc. ("NaiKun Wind") (TSX VENTURE:NKW) today announced that it has signed a Memorandum of Understanding with the Prince Rupert Port Authority covering important logistical elements for the construction phase of the company's offshore wind energy project in northwestern British Columbia.

The agreement will allow NaiKun Wind to develop areas where its submarine cable will meet the shoreline. The cable transmits wind-generated electricity from the project site off the east coast of Haida Gwaii (the Queen Charlotte Islands) to the British Columbia mainland's electricity transmission grid.

The agreement also provides NaiKun Wind with the opportunity to develop an area for a facility for sub-assembly of wind-turbine generators and other equipment related to its project, the first proposed offshore wind farm in Canada.

The Port Authority manages property on Ridley Island, south of Prince Rupert, which is the planned landfall site for the transmission cable from NaiKun Wind's project.

"We are pleased to be working with the Port Authority to help us develop this important component of our project," said Matt Burns, Vice-President of NaiKun Wind. "It is an organization with a demonstrated track record for developing valued facilities and shares NaiKun Wind's commitment to generate renewable and clean energy for B.C."

Mr. Burns said that the transmission component of the project will generate jobs for the community, particularly construction work.

The agreement is the latest in a series of arrangements that NaiKun Wind is making as project development moves forward. NaiKun Wind has signed a partnership agreement with the Haida Nation and commercial agreements with the Lax Kw'alaams and Metlakatla First Nations. ENMAX Green Power Inc. is a key participant in the project, and NaiKun Wind has signed a letter of intent with Siemens Wind Power for the supply of wind turbine generators.

NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a British Columbia-based renewable energy company, traded on the TSX Venture Exchange. 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. 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 www.naikun.ca.

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

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