in News Departments > Projects & Contracts
print the content item

Vancouver, B.C.-headquartered NaiKun Wind Group Inc., developer of the proposed 1,750 MW wind project off the coast of British Columbia, has signed an engagement agreement with Cormark Securities Inc. for the sale of 9 million common and 1.3 million flow-through shares of NaiKun on a private-placement basis. Gross proceeds of C$35,155,000 are expected, and Cormark will have an option to increase the offering by 1.5 million common shares.

The offering will be led by Cormark, with participation by Canaccord Adams and Northern Securities Inc.

"These resources will provide us the flexibility to increase our financial participation in the projects we are developing as well as improve our ability to secure critical supply components," says Michael Burns, NaiKun Wind Energy Group chair and CEO.

NaiKun says it plans to begin construction of the first 320 MW of the offshore wind farm in 2009.


Trachte Inc._id1770
Latest Top Stories

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Canwea_id1984
Hybrid Energy Innovations 2015
Renewable NRG_id1934