NaiKun Names New President

NAW Staff, Thursday 27 July 2006 - 01:00:00

NaiKun Wind Development Inc., proponent of the world's largest offshore wind project, recently announced that Ray Castelli has been appointed as its new president, effective October 9.

The appointment of Castelli, elected to the NaiKun Board of Directors in September 2005, coincides with the company's decision to prepare to bid into the next B.C. Hydro energy call, given the provincial utility's recently released plans to significantly increase the amount of energy it will be buying in the future, particularly from renewable sources such as wind power.

Michael C. Burns, the current president and vice chairman of NaiKun Wind Development Inc., assumes the position of chairman of the board.

"NaiKun is delighted to have attracted an individual of Ray Castelli's caliber to become our new president," says Burns.

Castelli was most recently senior vice president of Quadrem, a Dallas-based procurement and e-business company focused on the natural resource industry. Prior to helping found Quadrem in 2001, he was director of corporate development for Alcan Aluminium in Montreal. This role involved evaluating acquisition and development opportunities around the world, including smelters and electricity projects.



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