NaiKun Wind Energy Group Inc. Looks to Success Beyond Clean Power Call by 24hgold

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NaiKun Wind Energy Group Inc.
TSX VENTURE:	NKW

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March 31, 2010
NaiKun Wind Looks to Success Beyond Clean Power Call
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2010) - NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) announced today that its offshore wind energy project is no longer under consideration in BC Hydro's Clean Power Call procurement process. NaiKun Wind submitted a proposal to BC Hydro in November 2008 for a 396MW offshore wind energy project to be built in the Haida Energy Field in Hecate Strait off British Columbia's northwest coast. "We are obviously very disappointed with the outcome and will seek discussions with BC Hydro to fully understand its decision and determine the most effective path forward for the project," said Paul Taylor, NaiKun Wind's President and CEO. "We firmly believe that projects of our scale and advanced degree of development are necessary for B.C. to reach its electricity self-sufficiency objective and climate change goals and to meet future demand growth." The Government of British Columbia has set the course for continued growth in the province's renewable energy sector, announcing earlier this year that a Clean Energy Act will be presented to the legislature in the current sitting. The Act is intended to establish a fair, predictable contract procurement process as part of a comprehensive strategy to put B.C. at the forefront of clean energy development. A framework for power exports is also anticipated in the legislation, which points toward significant procurement of power from new sources including larger generation facilities such as NaiKun Wind's project. "Our project is at an advanced stage of development including areas such as First Nations partnerships, environmental approvals, project planning, equipment resourcing and wind resource evaluation," added Taylor. "Working with ENMAX, First Nations and key suppliers such as Siemens Canada, we look forward to discussing with BC Hydro and the Provincial Government how the 396MW project and the Haida Energy Field will fit into the province's clean energy strategy and electricity procurement plans." 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 Haida Nation to become one of the generation project's equity owners. In addition to advancing the offshore wind project, NaiKun Wind is pursuing the acquisition of other renewable energy assets in order to diversify the Company's risk profile and secure near-term revenue. NaiKun Wind Energy Group Inc. is a British Columbia-based renewable energy company. The Company's primary focus is the development of a 396MW offshore wind energy project which will generate enough clean, renewable energy to provide electricity to 130,000 B.C. homes. NaiKun Wind is committed to working in partnership with First Nations and collaboratively with stakeholder groups and local communities. 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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

NaiKun Wind Energy Group Inc. - Media Enquiries
Doug McClelland
Director, Communications
604-631-4487
dmcclelland@naikun.ca

or

NaiKun Wind Energy Group Inc. - Investor Enquiries
Peter Murray
Manager, Investor Relations
604-631-4494
pmurray@naikun.ca
www.naikun.ca

INDUSTRY: Energy and Utilities - Alternative Energy, Energy and Utilities - Utilities, Environment - Air Pollution Control, Environment - Natural Resource Management, Environment - Regulations and Law

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