Naikun Wind Energy (NKW.V) will try again to sign an agreement with a wind turbine provider. The stock was at 5 cents (Canadian) and now is about 20 cents. Been 7 weeks now and still waiting for news on a definitive agreement. They have potential for 2GW, however Phase One is for 400MW to start things off. Negotiations with Federal/Provincial Govt's, BC Hydro and the Haida Nation must still be done for the project to continue.
Economics: Cost effective. Power production 97% of the time. With technological improvements in offshore wind turbines Gross Capacity Factor increased from around 40%, 10 years ago, to over 60% for this project. (Most land turbines and even some offshore installations around the world have only 35-40%)
2019-08-21 19:59 ET - News Release
Mr. Mike O'Connor reports
NAIKUN WIND ANNOUNCES THE SIGNING OF AN OFFER FOR THE DEVELOPMENT OF ITS OFFSHORE WIND PROJECT IN HECATE STRAIT
Naikun Wind Energy Group Inc. has signed an indicative offer with a major offshore wind development company to develop its world-class wind resource in Hecate Strait, a few kilometres east of Haida Gwaii, within the traditional territory of the Haida Nation. The parties are working to negotiate and sign a definitive agreement in the next few weeks. The definitive agreement, with this major offshore wind company, will provide leading-edge technical expertise and dedicated financial resources, and will establish a framework for a long-term relationship.
Michael O'Connor, president and chief executive officer, was quoted as saying: "After months of work and lengthy engagements with numerous offshore wind companies, we are very pleased to be making this step to see the project move forward into a significant development phase. We look forward to starting a new and positive partnership with the Haida Nation."
A further update will be provided on the signing of the definitive agreement.
Naikun cautions the definitive agreement negotiations are not complete. The final agreement, if completed, will be subject to shareholder, regulatory and TSX Venture Exchange approval.
About Naikun Wind Energy Group Inc.
Naikun is a British Columbia-based renewable energy company. Naikun's offshore wind project is located on B.C.'s northwest coast, where the wind resource is one of the strongest and most consistent in the world. |
