NaiKun Signs MOU with Haida Nation
May 9, 2007
Vancouver, British Columbia – NaiKun Wind Development Inc. (“NaiKun”) announced today it 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 is delighted to have achieved a formal agreement with the Haida Nation regarding the development of this wind farm, said Michael C. Burns, Chairman of NaiKun. ” We have great respect for the Haida as a people and look forward to working with them and are confident the resolution of environmental concerns can be met. We also see significant long-term benefits for all residents of Haida Gwaii, and BC, resulting from the development of this new clean, green energy resource” he added.
Arnie Bellis, Vice-President of the Council of Haida Nation commented, “We have invested several years in educating ourselves about this project and energy development, as well as educating these developers about the concerns for Haida Gwaii. Provided this project meets our conditions we look forward to a long and fruitful relationship with NaiKun.”
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. 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 contact:
Director, Public Affairs and Communications
NaiKun Wind Development Inc.
Arnie Bellis, Vice-President
Council of the Haida Nation
Phone: (250) 626-5252