Wednesday, March 31, 2010

Naikun Wind Development misses out in second BC Hydro Clean Power call

"We are obviously very disappointed with the outcome and will seek discussions with BC Hydro to fully understand its decision and determine the most effective path forward for the project,”-- Naikun Wind Development President and CEO Paul Taylor outlining his company's disappointment after BC Hydro's Clean Power call announcement of Tuesday.

It's apparently on to Plan B for Naikun Wind Development, after BC Hydro announced their second round of successful Clean Power call applicants and did not call on Naikun to become a participant in their program through their Hecate Strait wind power project.

BC Hydro selected four more participants in its much vaunted clean power call, two run of river projects near Squamish, a waste heat project in Sparwood and a Wind Power project planned by Sea Breeze Energy Corporation for Port Hardy.

That brings to 23 the total number of programs announced by BC Hydro, 19 previous approvals were announced at the start of March. For those left on the sidelines in the Power call program, BC Hydro advised that they may have better success later with the introduction of the Province of British Columbia's Clean Energy Act.

In a press release put forward by Naikun on Tuesday, the company offered up it's thoughts on where things go from here, an apparent dedication to continue forward with a heading by the title of "Naikun looks to success beyond Clean Power Call".

For now it seems that the company will continue to move twoards completion of its environmental review process for the project, as well as continue on with the process of partnership with the Haida Nation, providing assistance to the Haida to secure support from the Federal Government that would enable the Haida Nation to become one of the generation project’s equity owners.

So far there hasn't been much indication from the Haida as to what their future plans may be in regard to participation in that project, but one imagines that the developments of today could add for more discussion points among their membership.

The company also stressed its intention to pursue the acquisition of other renewable energy assets as part of a diversification program and reduce the Company’s risk profile, as well as continue seek out and secure near-term revenue

Naikun recently suffered some disappointing news on the Federal side of the power agenda as well, when the Federal Conservatives cancelled a 1.48 billion dollar eco-Energy program as part of their Federal budget cutbacks.

The recent decisions from both Federal and Provincial directions has made for a very disappointing thirty days or so on the alternative energy front and would seem to be a set back at least in the near term for plans to harness the wind off of Hecate Strait.

The Northern View-- NaiKun no longer being considered for BC Hydro Clean Power Call
CFTK TV 7 News-- BC Hydro Rejects Naikun Project

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