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NaiKun Wind in talks with 'major' partner on Canadian offshore wind project

NaiKun Wind Energy Group Inc. is closing in on an agreement with an unnamed developer around its planned offshore wind project in Hecate Strait in Canada.

The group has signed an indicative offer with a "major offshore wind development company" and the parties are now working to negotiate and sign a definitive agreement in the next few weeks, according to an Aug. 21 news release.

British Columbia-based NaiKun ended a previous joint development agreement it had with Ørsted A/S in October 2018, with the Danish utility saying it wanted to focus on expanding its U.S. portfolio in more mature markets like the U.S. East Coast.

Any resulting final agreement with the new partner will be subject to shareholder, regulatory and TSX Venture Exchange approval, NaiKun said.