BC Hydro announced that it anticipates awarding Electricity Purchase Agreements for successful Clean Power Call participants in fall of 2009. The provincial utility also said that it will be assessing the status of First Nations consultations to determine whether Clean Power Call participants have conducted adequate consultation with respect to their power sale proposals.
“We’re pleased to see that the Clean Power Call is back on track,” said Paul Taylor, President and CEO of NaiKun Wind. “The government has been clear and consistent in its support for a strong renewable energy industry in the province and we’re encouraged by the certainty re-established by BC Hydro’s announcement.”
“We look forward to BC Hydro and the provincial government taking action based on their recent announcements on the Clean Power Call,” Taylor added.
The increased focus on First Nations relations has particular meaning for NaiKun Wind, as the company recently signed an agreement for the Haida Nation to acquire 40 per cent of the 396 MW project the company currently has under development. This comes in addition to the 50/50 partnership already in place with the Haida Nation and NaiKun Wind covering the subsidiary that will perform operations and maintenance work for the project after construction. NaiKun Wind also has commercial agreements with the Metlakatla and Lax Kw’alaams First Nations covering the transmission component of the project.
BC Hydro initiated the Clean Power Call in June 2008 and the original expectation was that energy purchase agreements would be awarded in the early summer of 2009. The process was delayed after the BC Utilities Commission released its review of BC Hydro’s long-term power acquisition plan for the province.
NaiKun Wind Energy Group Inc. (www.naikun.ca) is a British Columbia-based renewable energy company with offices in Vancouver, Masset and Skidegate. The 396 MW offshore wind energy 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 combating climate change. The proposed 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.
Haida Nation Signs Agreement to Acquire 40 Per Cent of NaiKun Wind Energy Project
NaiKun Wind Energy Group Inc. (TSX-V: NKW) and the Haida Enterprise Corporation announced today that they have signed an agreement for the Haida Nation to acquire up to 40 per cent of the wind energy project being developed through NaiKun Wind subsidiary NaiKun Wind Generating Inc.
The Haida Enterprise Corporation (“HaiCo”), on behalf of the Haida Nation, and NaiKun Wind Energy Group (“NaiKun Wind”) have signed a memorandum of understanding in support of the agreement. HaiCo and the Haida Nation will be seeking the support of the federal government for this proposal. The initiative is consistent with the objectives of the new Federal Framework on Aboriginal Economic Development. The current estimated cost of the NaiKun Wind project is approximately $2 billion.
“This is an important step for the NaiKun Wind project,” said Paul Taylor, NaiKun Wind’s President and CEO. “Having the Haida Nation with an ownership interest in the proposed project company underscores their support and commitment.”
NaiKun Wind’s original plan, as project developer, was to bring in a third partner for the implementation phase for the wind energy project. NaiKun Wind and Enmax Green Power Inc. currently each own 50 per cent of the project company. The proposed investment by HaiCo is also conditional on the wind project receiving environmental approvals from the Haida Nation as well as the federal and provincial governments.
Next steps in the process include the Haida Nation seeking support from the Government of Canada for their participation in the project and the finalization of a sale and purchase agreement between the Haida Enterprise Corporation and NaiKun Wind.
The Haida Nation is currently a full partner with NaiKun Wind in the subsidiary that will operate and maintain the project after construction.
By acquiring a 40 per cent position in the project company, HaiCo will join Enmax and NaiKun Wind Energy Group Inc., as project partners.
NaiKun Wind Energy Group Inc. (www.naikun.ca) is a British Columbia-based renewable energy company with offices in Vancouver, Masset and Skidegate. The 396 MW offshore wind energy 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 combating climate change. The proposed 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.
Project Description
NaiKun is focused on developing Canada’s first offshore wind energy project off the northwest coast of British Columbia. Located in Hecate Strait, between Haida Gwaii and Prince Rupert, up to 110 turbines will provide clean, renewable energy to meet B.C.’s growing electricity needs.
NaiKun’s project, in response to the government’s BC Energy Plan, which sets a target of electricity self-sufficiency by 2016, could power some 130,000 B.C. homes and displace 450,000 tonnes of greenhouse gas emissions per year if used instead of natural gas.
Our goal is to create a project that fits with B.C’s energy needs, respects the environment and provides benefits for local communities. NaiKun has developed partnerships with First Nations on key aspects of the project actively engaging them in ownership, operations, employment and training.
NaiKun has assembled an unparalleled team of experts in all aspects of the energy sector and has developed a partnership with industry leader ENMAX Green Power Inc., a subsidiary of Alberta’s leading competitive electricity retailer.
www.naikun.ca/www.naikun.ca/news_media/news.php
www.naikun.ca/pdf/assessments/Project%20Setting%20and%20Existing%20Environment.pdf
www.naikun.ca/pdf/assessments/NaiKunComBenefitsLR.pdf
