As of September 30, 2008, NaiKun had C$27.94 million in cash and cash equivalents, compared to C$36.71 million at the end of September 2007.
NaiKun has submitted a 396MW proposal into BC Hydro’s Clean Power Call as the first phase of its offshore wind power project.
According to the company, this phase will include up to 110 3.6MW turbines, enough to provide 130,000 British Columbia homes with clean electricity and help move the province of British Columbia closer to achieving its goal of self-sufficiency by 2016.
Paul Taylor, president and CEO of NaiKun, said: “NaiKun is not affected with the worldwide economic situation, but with the strength of our project, our team including industry and First Nations partners, we are continuing to make advances in the development of the project.”
NaiKun is focused on developing Canada’s first offshore wind energy project off the northwest coast of British Columbia. Located in Hecate Strait, between Haida Gwaii and Prince Rupert, up to 110 turbines will provide clean, renewable energy to meet B.C.’s electricity needs.
