NaiKun Wind Announces Signing of Agreement to Sell Offshore Wind Project to Northland Power

NaiKun Wind Energy Group has entered into an agreement  to sell the NaiKun Offshore Wind Farm located in the Hecate Strait off the coast of British Columbia, Canada, where the wind resource is one of the strongest and most consistent in the world, to Northland Power, Inc., a global developer, owner and operator of sustainable infrastructure assets with expertise and capacity to advance early stage renewable energy projects to the next level of development .
NaiKun Wind Announces Signing of Agreement to Sell Offshore Wind Project to Northland Power
Wind turbine in the North Sea Senu Sirnivas / NREL

Upon successful completion of the acquisition, the Naikun Group will no longer be involved with the development and operations of the project and Northland will be responsible for all aspects of the project moving forward. Northland will work closely with the Haida Nation to explore the Project details and potential involvement in the project.

The transaction is anticipated to close in mid-2020, subject to the satisfaction of certain customary conditions, including but not limited to the company obtaining the applicable regulatory approvals and approval of the deal  by way of a special resolution of the company’s shareholders.

The agreement has been approved unanimously by NaKun’s board of directors. The Board recommends that the shareholders vote in favor of approving the transaction at a special meeting of shareholders, to be scheduled as soon as possible.

The company is preparing a management information circular for shareholders that will further explain the terms and conditions of the transaction, and which will be delivered to shareholders.

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