VANCOUVER, BC. (September 12, 2017) – Today, the Board of Directors for NaiKun Wind Energy Group (NaiKun) executed a Letter of Intent (LOI) with DONG Energy to further advance its offshore wind project, proposed in Hecate Strait between Haida Gwaii and Prince Rupert.
DONG Energy, based in Denmark with North American headquarters in Boston, owns and operates 22 offshore wind farms in Europe and is a global leader in green technology.
NaiKun’s LOI with DONG Energy ensures that NaiKun has access to DONG Energy’s leading-edge technical expertise and dedicated financial resources, and establishes a framework for a long-term relationship.
“We are very excited about our agreement with DONG Energy,” said Philip Hughes, Chairman of the Board for Naikun. “This agreement takes us one major step closer to developing the first-ever offshore wind project in Canada.”
Naikun’s offshore wind project would be a significant contributor to the reduction of Green House Gas (GHG) emissions in Canada and supports BC as a leader in the generation of cost-competitive green renewable power. The project has the Environmental Assessment Certificates from the Provincial and Federal Governments for the first phase of the project, 300 MW to 400 MW. When approved, it would take 3 years to build and commission. Fully developed in phases over many years, the wind resource in Hecate Strait could provide in excess of 2 GW of power.
“This agreement effectively connects the largest offshore wind developer in the world with a project that offers one of the strongest, most-consistent wind resources in the world,” said Michael O’Connor, President and CEO of Naikun.
Thomas Brostrøm, President for DONG Energy Wind Power North America, echoed those thoughts. “Offshore wind is a reliable home-grown energy source and we are excited to explore the Canadian market,” he said. “We see this opportunity as a first step to bringing offshore wind power to Canada in what could become a strategic partnership with the nation’s front-runner project.”
About NaiKun Wind Energy Group
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 VENTURE:NKW). Since 2000, the company has focused on renewable energy. Naikun’s proposed offshore wind project would support British Columbia’s commitment to clean, renewable energy. www.naikun.ca
About DONG Energy
DONG Energy (NASDAQ OMX: DENERG) is one of Northern Europe’s leading energy groups and is headquartered in Denmark. Around 5,800 ambitious employees develop, construct and operate offshore wind farms, generate power and heat from our power stations as well as supply and trade in energy to wholesale, business and residential customers. The Group generated revenue in 2016 of DKK 61 billion (EUR 8.2 billion). DONG Energy has its North American headquarters in Boston, MA, where they lead their U.S. development projects. www.dongenergy.com
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NaiKun Wind Energy Group Contact:
Mike O’Connor, 604-631-4483, firstname.lastname@example.org
DONG Energy Media Contact:
Lauren Burm, 617-309-8730, email@example.com