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Vancouver, British Columbia-based NaiKun Wind Energy Group Inc. and the Council of the Haida Nation have formed a 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 revenue sharing, environmental stewardship, and employment and economic development opportunities for the Haida Nation.

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 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 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, according to NaiKun.

SOURCE: NaiKun Wind Energy Group Inc.

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