The proponents of the wind farm off of the Queen Charlotte Islands added some clout to their plans by adding a major green power marketing group to their project.
NaiKun Wind Development Incorporated has announced an agreement with ENMAX Corporation, which will see Enmax invest in the wind company and work with them on several areas of development, including the first phase of its wind energy project in Hecate Strait.
The Daily News featured the plans of the two companies in a front page story in Thursday’s paper.
HUGE GREEN COMPANY BUYS INTO CHARLOTTES WIND FARM
Involving “world class” ENMAX a boost for NaiKun power project.
By Leanne Ritchie
The Daily News
Pages one and three
Yesterday, NaiKun, the company proposing a wind far off the northeastern tip of the Queen Charlotte Islands, received a significant stamp of approval from the largest green energy marketer in Canada.
NaiKun has entered into an agreement with ENMAX Corporation to invest in NaiKun and to work together with the company in several strategic areas of the company’s development of the first phase of its wind energy project in the Hecate Strait.
“ENMAX is a welcome addition to the NaiKun team, ENMAX is well qualified as a strategic partner on our project and … is the largest green marketer in Canada,” said Ray Castelli, president of NaiKun Wind Development Inc.
ENMAX 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,” said Castelli.
Under the terms of the agreement, NaiKun will receive $2 million from ENMAX in exchange for 1,097,562 common shares in NaiKun Wind Energy Group at a price of $1.36 per share plus 500,000 common shares of NaiKun Generation Company inc. or GenCo. This represents 50 per cent of GenCo., 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 30.
“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 is exploring the potential of building a multi-phased wind farm off Rose Spit on the Queen Charlotte Islands.
The first phase would provide 320 megawatts of energy.
NaiKun is hoping to compete in B. C. Hydro’s next bid for independent power production, a key step in moving the project forward.
“Involving a proven world-class utility like ENMAX is a major step forward for the NaiKun project,” said Michael C. Burns, chairman of NaiKun Wind Energy Group Inc.
“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 said about ENMAX.
NaiKun Wind Development Incorporated has announced an agreement with ENMAX Corporation, which will see Enmax invest in the wind company and work with them on several areas of development, including the first phase of its wind energy project in Hecate Strait.
The Daily News featured the plans of the two companies in a front page story in Thursday’s paper.
HUGE GREEN COMPANY BUYS INTO CHARLOTTES WIND FARM
Involving “world class” ENMAX a boost for NaiKun power project.
By Leanne Ritchie
The Daily News
Pages one and three
Yesterday, NaiKun, the company proposing a wind far off the northeastern tip of the Queen Charlotte Islands, received a significant stamp of approval from the largest green energy marketer in Canada.
NaiKun has entered into an agreement with ENMAX Corporation to invest in NaiKun and to work together with the company in several strategic areas of the company’s development of the first phase of its wind energy project in the Hecate Strait.
“ENMAX is a welcome addition to the NaiKun team, ENMAX is well qualified as a strategic partner on our project and … is the largest green marketer in Canada,” said Ray Castelli, president of NaiKun Wind Development Inc.
ENMAX 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,” said Castelli.
Under the terms of the agreement, NaiKun will receive $2 million from ENMAX in exchange for 1,097,562 common shares in NaiKun Wind Energy Group at a price of $1.36 per share plus 500,000 common shares of NaiKun Generation Company inc. or GenCo. This represents 50 per cent of GenCo., 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 30.
“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 is exploring the potential of building a multi-phased wind farm off Rose Spit on the Queen Charlotte Islands.
The first phase would provide 320 megawatts of energy.
NaiKun is hoping to compete in B. C. Hydro’s next bid for independent power production, a key step in moving the project forward.
“Involving a proven world-class utility like ENMAX is a major step forward for the NaiKun project,” said Michael C. Burns, chairman of NaiKun Wind Energy Group Inc.
“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 said about ENMAX.
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