NaiKun Wind is to sign a deal with an offshore wind company to develop its offshore wind project in the Hecate Strait off the coast of British Columbia, Canada.
The indicative offer agreement is with an undisclosed offshore wind developer to exploit the resource in the strait, a few kilometres east of Haida Gwaii, within the traditional territory of the Haida Nation.
The two companies are working to negotiate and sign the definitive agreement in the next few weeks.
The agreement will provide leading-edge technical expertise, dedicated financial resources, and will establish a framework for a long-term relationship.
NaiKun Wind chief executive Michael O’Connor said: “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.
“We look forward to starting a new and positive partnership with the Haida Nation.”
The final agreement, if successfully completed, will be subject to shareholder, regulatory and TSX Venture Exchange approval.
NaiKun’s offshore wind project is located off of British Columbia’s north-west coast, where the wind resource is one of the strongest and most consistent in the world.