Offshore, Project Development, Wind Power

Uniterre to Consider Merging with its NaiKun Wind Subsidiary

Vancouver, British Columbia [RenewableEnergyAccess.com] Uniterre Resources Ltd shareholders will be asked to approve an amalgamation of the company with its partially owned subsidiary NaiKun Wind Development Inc. in a meeting to be held in September. NaiKun is the developer of a five-phase 1750-megawatt offshore wind farm in Hecate Strait, British Columbia, and anticipates the completion of its $5,000,000 financing by Northern Securities Ltd. by the September 15 date. The funds will be used to advance the NaiKun offshore wind development and to allow NaiKun to bid in BC Hydro’s 2007 Call for Power. When fully operational, the five-phase 1,750 MW NaiKun offshore wind farm will generate enough electricity to power 600,000 homes. Phase I is expected to begin construction in 2009.