Canada

Canada

Naikun in talks with 'major offshore developer'

Canadian developer Naikun Wind Energy signed an "indicative offer" with an unnamed "major offshore wind development company" to pursue its planned project off British Columbia.

The proposed 400MW project would be located in the Hecate Strait off Canada's westernmost province British Columbia (pic: Ørsted)
The proposed 400MW project would be located in the Hecate Strait off Canada's westernmost province British Columbia (pic: Ørsted)

The two parties are now working to sign a definitive agreement "in the next few weeks" that would see the unnamed developer provide technical expertise and financial resources for a 400MW wind farm, Naikun added.

Naikun had engaged numerous offshore wind companies before signing this "indicative offer", according to president and CEO Michael O’Connor.

The Canadian company had been exclusively working with Ørsted to co-develop the project in the Hecate Strait, east of the traditional territory of the indigenous Haida Nation.

However, in October 2018 the Danish developer decided not to pursue the Haida Energy Field further, opting to focus on its growing US portfolio instead following the acquisition of Deepwater Wind.

Naikun has provincial and federal regulatory approvals for a 400MW wind farm and construction could begin within two years of a power purchase agreement being secured.

Any final agreement would be subject to shareholder, regulatory and Toronto Stock Exchange approval, Naikun added.

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