NaiKun Wind Development Inc. has entered into a Memorandum of Understanding (MOU) with the Haida Nation regarding Phase 1 (320MW) of the proposed offshore wind farm project in Hecate Strait.
The MOU is subject to the project receiving an Environmental Assessment that determines the project can proceed without material adverse effect on the region’s environment as assessed by the Council of Haida Nation, Canada and British Columbia. The region is particularly rich in crab and seabirds.
Under the terms of the MOU, NaiKun and the Haida Nation have established a framework to govern the relationship between the Haida Nation and NaiKun regarding the construction and operation of the project, which is expected to begin construction in 2009.
The agreement also establishes a formal commercial relationship in which the Haida Power Authority will participate in the subsidiary, NaiKun Operating Company (Opco), the entity which will be responsible for providing operating and maintenance services to the wind power project. The agreement also contemplates employment and training opportunities as well as marketing of greenhouse gas credits from the wind farm.
NaiKun Wind Energy Group Inc. is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. (TSX-V NKW). Since 2000, the company has focused on renewable energy. Its subsidiary, NaiKun Wind Development Inc., is engaged in the development of a major offshore wind project off the coast of British Columbia in an area known as the Haida Energy Field.
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