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Message: Haida Nation and NaiKun Form Partnership, Canada's First Offshore Wind Project
| January 29, 2009 |
| Haida Nation and NaiKun Form Landmark Partnership; Agreement a Milestone for Canada's First Offshore Wind Project |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2009) - NaiKun Wind Energy Group Inc. ("NaiKun") (TSX VENTURE:NKW) and the Council of the Haida Nation are pleased to announce the formation of an historic partnership in support of the development of Canada's first offshore wind energy project. The NaiKun project is located in the traditional territory of the Haida Nation, in British Columbia's Hecate Strait, between Haida Gwaii (the Queen Charlotte Islands) and the mainland. The partnership will be a commercial limited partnership which will operate and maintain the NaiKun wind energy project after construction. The comprehensive limited partnership agreement provides for maximum benefits to the Haida Nation from the NaiKun project, including revenue sharing, environmental stewardship, and employment and economic development opportunities for the Haida. The agreement formalizes the relationship between the Haida Nation and NaiKun which has been ongoing since 2002, and builds on the memorandum of understanding signed by the two parties in May 2007. "The establishment of the limited partnership marks a significant milestone for NaiKun's business relationship with the Haida and is a key step forward for the development of offshore wind energy in British Columbia," said Michael C. Burns, chair of the board of directors at NaiKun. "This agreement is the result of many years of working together and it reflects the commitment from both partners to move this project forward. NaiKun will gain from the knowledge and insight of the Haida and welcomes the thoughtful support of the Nation and its leaders," said Mr. Burns. "The Haida people support development that brings benefits of all kinds - individual, commercial and environmental - to Haida Gwaii and to the Haida Nation," said Guujaaw, President of the Haida Nation. "We fully believe that, subject to confirmation of environmental feasibility, this offshore project will bring significant long-term benefits to the Haida Nation. For these reasons we are proud to be participants in the project," said Guujaaw. The Haida Nation and NaiKun Wind Operating Inc., a subsidiary of NaiKun, will participate equally in the partnership both in terms of ownership and economic value. NaiKun Wind Operating Inc. is the designated General Partner. The project is contingent upon receipt of environmental approvals from the Haida Nation and through the harmonized federal/provincial environmental assessment process, and the award of an Electricity Purchase Agreement from BC Hydro. Training and recruiting for the project will begin immediately to ensure a qualified workforce is in place as activity ramps up for the start of construction in 2012. In addition to support from local First Nations, the NaiKun project also has strong public support. A public opinion poll conducted for NaiKun by the Mustel Group in September 2008 indicated that 73 per cent of British Columbians support the project. NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a British Columbia-based renewable energy company that is traded on the TSX Venture Exchange. Additional information is available on NaiKun's website: www.naikun.ca. |
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