NaiKun Updates Information on Wind Project, Relocates Office (Canada)
NaiKun Wind Energy Group Inc. (the “Company” or “NaiKun Wind”) has just posted, on the Company’s website, a briefing paper authored by Michael O’Connor, President and CEO.
This paper focuses on the company’s current resource development, some of our work with possible suppliers, our review of the energy picture, and explains our efforts to move our company from a resource development company to successful development of the wind resource.
In addition, NaiKun announces the relocation of its corporate office. Having reached the end of the Company’s lease, NaiKun will be moving to significantly smaller offices. In keeping with the downsizing steps put in place in mid 2010, this move will further reduce our annual costs by $120,000 while providing sufficient space to reasonably ramp up should the Company achieve a success event.
New address – effective November 21, 2011
#1350, 1140 West Pender Street
Vancouver BC, V6E 4G1
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
NaiKun is a British Columbia-based renewable energy company. Located on B.C.’s northwest coast, where the wind resource is one of the strongest and most consistent in the world, NaiKun’s Phase I 396MW offshore wind project would generate enough energy to provide electricity to 130,000 B.C. homes. The NaiKun project is at an advanced stage of development with environmental approvals from the Provincial and Federal Governments and agreements in place with key suppliers and First Nations. Given its development status, construction can begin within two years of the award of an electricity purchase agreement.
Offshore WIND staff, November 23, 2011; Image: naikun