NKW Oceanic Wind Energy Inc

NaiKun Wind Energy Group (TSX VENTURE:NKW) held its Annual General Meeting in
Vancouver on March 18, 2010.


The following were re-elected to NaiKun Wind's Board of Directors:



-  Philip Hughes (Chair) 
-  Michael C. Burns 
-  Joseph Houssian 
-  Ken McCready 
-  David Rehn 
-  Paul Taylor 
-  Graham Wilson 



In addition, KPMG LLP, Chartered Accountants were re-appointed as auditors of
the Company.


"One of NaiKun Wind's strengths is the membership of our Board of Directors,"
said Philip Hughes, Chair of the Board. "The broad range of experience and
perspectives present on the Board has served the company very well over the
years."


"I would also like to take this opportunity, on behalf of shareholders and
staff, to thank Fereydoun (Fred) Dabiri and Steven Sanders who are retiring from
the Board," added Hughes. "Steven Sanders has served on the Board since 1990,
except for a brief hiatus in 1994, and has provided many years of counsel to the
Company. Fred Dabiri joined the Board in 2007 and his experience working with
North Coast First Nations opened the door for NaiKun Wind to form early
successful relationships with First Nations in the project area. We extend our
deepest appreciation and best wishes to both."


BC Hydro has indicated that it will complete the selection of projects under the
Clean Power Call by the end of this month. The Company believes that the
attributes and values of the NaiKun Wind project present a compelling case for
its inclusion on the list of successful proponents.


Specifically, the project offers the following strengths:

- Solid collaborative partnerships with local First Nations

- Significant economic and environmental benefits for the North Coast region
 
- Environmental Assessment Certificate from the Provincial Government

- Superior wind resource; favourable conditions for construction

- Existing transmission capacity at the point of interconnection

- Proven Siemens offshore wind and transmission technology

- Strong public support

- Peak output during high-demand months

- Advanced stage of development - project is ready to build 

NaiKun Wind continues to work with the Federal Government on the completion of
its environmental review process for the project. The Company also continues to
assist the Haida Nation in its effort to secure support from the Federal
Government that would enable the Nation to become one of the generation
company's equity owners.


In addition to advancing the offshore wind project, NaiKun Wind is working
toward near-term acquisition of electricity generation assets in advanced stages
of development. The goal is to diversify the Company's risk profile and to
secure near-term revenue from renewable energy assets. NaiKun Wind expects to be
able to provide more information on this initiative in coming months.


NaiKun Wind remains confident in its vision of developing a renewable energy
company with the goal of helping to meet B.C's energy needs, reducing greenhouse
gas emissions and providing benefits for North Coast communities and British
Columbia as a whole. 


NaiKun Wind Energy Group Inc. is a British Columbia-based renewable energy
company with offices in Vancouver, Masset and Skidegate. The 396MW offshore wind
energy project will generate enough energy to provide electricity to 130,000
B.C. homes and play a significant role in combating climate change. The project
will also create an estimated 200 jobs during construction and 50 permanent jobs
for maintenance and operations. NaiKun Wind is committed to working in
partnership with First Nations and collaboratively with stakeholder groups and
local communities in the development of its project. For more information,
please visit www.naikun.ca.


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.

Oceanic Wind Energy (TSXV:NKW)
Historical Stock Chart
From Sep 2024 to Oct 2024

Oceanic Wind Energy (TSXV:NKW)
Historical Stock Chart
From Oct 2023 to Oct 2024