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NaiKun closes in on offshore wind partnership with major player

Offshore wind turbines. Source: LICengineering (www.liceng.dk).

August 22 (Renewables Now) - NaiKun Wind Energy Group Inc (CVE:NKW) seems to have found a new partner for its planned offshore wind project on the northwestern coast of British Columbia, Canada.

The company said on Wednesday it has signed an indicative offer with a “major” offshore wind player to develop the wind resource in Hecate Strait, within the traditional territory of the Haida Nation. The two parties are currently negotiating a definitive agreement.

“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,” commented Michael O’Connor, president and CEO of NaiKun.

The company teamed up with sector major Ørsted A/S (CPH:ORSTED) two years ago with the goal of developing the project, but the Danish group abandoned the plan in October 2018. Since then, NaiKun has been looking for a new partner.

According to its website, the project has provincial and federal regulatory approvals for a capacity of 400 MW.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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