Year active, successful: Naikun Wind Energy

  • Feb. 22, 2008 2:00 p.m.

New directors, key agreements and a formal agreement with the Haida Nation were notable achievements for NaiKun Wind Energy Group in 2007. “The past year was our most successful and active to date,” said NaiKun chair Michael Burns said at the company’s annual general meeting on Feb. 6 in Vancouver. Some highlights of the year include: a $2.5-million meteorological station installed in Hecate Strait, where the five-phase, 1750 megawatt project is expected to be located. As well, the Environmental Assessment Process terms of reference were approved in December 2007 and field research has been ongoing. When complete the wind farm will provide power to 120,000 mainland homes and the HaidaLink will connect the Haida Gwaii power grid into the mix. But company subsidiary NaiKun Wind Development Inc. also lost its president and chief executive officer, Ray Castelli. Mr. Castelli, who was born and raised in Prince Rupert, joined the NaiKun team in Feb. 2006. “He has moved on to a company called Weatherhaven,” said NaiKun spokesperson Lucy Shaw. She said that Mr. Castelli harnessed key people for the company’s board of directors and felt he had brought NaiKun as far as he could. He will continue to advise the company, she said. Fred Dabiri, president and CEO of David Nairne and Associates joined the board of directors this year. Mr. Dabiri has had a long history of working on the islands and has already been involved with this wind energy project for several years. Joe Houssian, who founded Intrawest Corporation, a luxury resort development company which sold in 2006, is also new to the board. A turbine expert, Jesper Hansen was added to the executive team, along with general counsel Tony Fogarassy and chief financial officer Doug King. NaiKun has also secured Siemens Power Transmission and Distribution to conduct studies for the project’s transmission options and ENMAX Corporation to help secure the electricity purchase agreement. The bid advisory team is now in place to prepare the company for BC Hydro’s Clean Power call. To help finance the project, NaiKun sold 10 million shares on a private placement basis through Cormark Securites in 2007 raising $35.5 million.

Just Posted

Study highlights Queen Charlotte housing needs

A new housing report highlights lack of social and seniors housing

Northwest family doctors win awards for B.C. launch of CHANGE Program

Northwest family doctors win awards for B.C. launch of CHANGE Program

Duu Guusd expands to include creek near Rennell Sound

More than three decades since the Haida Nation first resolved to protect… Continue reading

Masset Magic: Dancing and driving in circles

Whenever I see a pylon I have to fight the urge to… Continue reading

Tanker ban bill passes House of Commons

A ban against oil tankers in Haida Gwaii and North Coast waters… Continue reading

VIDEO: Canadian Forces help flood-ravaged Grand Forks residents heal

Sgt. Bradley Lowes says the military is used to dealing with traumatic times

NHL playoffs weekly roundup

Vegas Golden Knights have done the impossible and have a chance at hoisting the Stanley Cup

Changes needed for ‘Alert Ready’ mass emergency system

‘You need to strike this careful balance between alerting people to lots of problems — and doing it too often’

Las Vegas Golden Knights move on to Stanley Cup final

Improbable run continues for NHL’s newest expansion team

Oregon’s flooded recreational pot market a cautionary tale to Canada

‘In a broader sense, we are adding legal production to an already robust illegal production’

Chilliwack Chiefs make history with first RBC Cup win

In front of a huge and noisy crowd, the Chiefs claimed their first-ever national junior A title

UPDATED: Majority of flood evacuees in Kootenay-Boundary allowed to return home

Officials hope to have all 3,000 people back in their homes by Monday night

B.C. Lions bring back 6-time all-star offensive lineman Jovan Olafioye

He was acquired by the Montreal Alouettes last year.

Whitecaps rally for 2-2 draw with FC Dallas

Vancouver climbed out of a two-nil hole to tie FC Dallas 2-2

Most Read