Ming Yang Smart Energy and Canada’s Oceanic Wind Energy have signed a memorandum of understanding (MoU) to explore a strategic investment partnership for a large-scale offshore wind project in the Hecate Strait off the northwest coast of British Columbia.
The project is being developed by Oceanic Wind Energy and Coast Tsimshian Enterprises (CTE), a 50/50 partnership between the Metlakatla and Lax Kw’alaams First Nations.
The offshore wind farm could deliver between 1.5 GW and 2 GW of installed capacity, making it one of Canada’s largest Indigenous-led renewable energy opportunities, according to Oceanic Wind.
Under the non-binding agreement, Ming Yang will evaluate potential equity investment, debt financing, and broader strategic support for the project’s development, construction, and long-term operation. The parties said the scale and scope of the potential investment would be assessed during a 90-day due diligence period.
Oceanic Wind Energy also announced the appointment of Falkirk Environmental Consultants to begin work on the project’s environmental approvals process, starting with preparation and submission of the Initial Project Description (IPD).
The site where Oceanic Wind Energy and Coast Tsimshian Enterprises propose to build the offshore wind farm is located near Stephens Island, approximately 30 kilometres west of Prince Rupert.
Last year, the project partners were granted an Investigative Use Permit (IUP) for the first phase of their offshore wind project, which could have a capacity between 600 MW and 700 MW.
The permit allows the developer to occupy and utilise Crown land to study and gather information for the possible future project.