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Lax Kw’alaams and NaiKun Complete Commercial Agreement
VANCOUVER, BRITISH COLUMBIA–(Feb. 28, 2008) – NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) (“NaiKun”) is pleased to announce it has completed a commercial agreement with the Lax Kw’alaams First Nation (“Lax Kw’alaams”) regarding transmission routing for NaiKun’s proposed offshore wind project.
The NaiKun offshore wind energy project site is located in Hecate Strait with a planned transmission interconnection point south of Prince Rupert, in the traditional territory of Lax Kw’alaams. The Lax Kw’alaams-NaiKun agreement provides NaiKun with transmission access for the project.”Our agreement is built upon a strong foundation of respect, mutual trust and a shared vision for future. Clean, inexhaustible energy, jobs, sustainable economic benefits and a new approach to business development along the north coast have been key drivers in our agreement. We are excited to be working with Lax Kw’alaams and the positive leadership of Chief John Helin,” noted Michael C. Burns, Chairman, President and CEO of NaiKun. “Chief Helin has recognized the potential benefits of offshore wind development and has positioned Lax Kw’alaams at the forefront of clean energy technology. We will continue to look for ways to expand upon our relationship and work together as the project develops.”
The agreement is contingent upon the NaiKun’s successful completion of the environmental assessment (“EA”) process. Currently, NaiKun is in the research and data collection phase of the EA process and will apply for its Environmental Certificate, the final step in the process, in 2009.
“Offshore wind energy is a rare development opportunity that combines environmental stewardship with economic benefits; it is the next generation industry for the north coast. We are delighted to be working with NaiKun and their effort to provide clean energy alternatives. We hope to build upon our relationship and to collaborate on any future economic opportunities,” said Chief John Helin.
NaiKun is currently completing transmission routing studies with Siemens Power, Transmission and Distribution and will be bidding into the 2008 BC Hydro Clean Power Call.
NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. 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. Interested parties are invited to visit the company’s website at www.naikun.ca.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
NaiKun Wind Development Inc.
Director, Public Affairs and Communications
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