in News Departments > Projects & Contracts
print the content item

NaiKun Wind Energy Group Inc., a Vancouver, British Columbia-based renewable energy project developer, has entered into an investment agreement with ENMAX Corp., a Calgary-headquartered energy distribution and supply firm, to develop phase one of NaiKun's offshore wind farm in the Hecate Strait.

Under the terms of the agreement, ENMAX will invest C$2 million in NaiKun for joint development of the 320 MW phase of the project, in exchange for certain assets and obligations. The obligations include ENMAX acquiring common shares of NaiKun and its affiliate, NaiKun Generation Co. Inc., and the addition of a senior ENMAX representative to NaiKun's board of directors.

"ENMAX believes that NaiKun has done an excellent job in developing the project to this point," says Gary Holden, ENMAX's president and chief executive officer. "We believe that the attributes of both NaiKun and ENMAX are complementary and will ultimately deliver a successful project."


Trachte Inc._id1770
Latest Top Stories

Six Key Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965