A Gift from Mother Nature - A Renewable & Sustainable Resource
That is what I think Naikun is. With an average measured wind speed of 10.4 meters per second, Naikun has a world class resource ready to be developed in British Columbia’s Hecate Strait. This site has an average Gross Capacity Factor (GCF) of 55%, and in the winter when the electricity is most needed a GCF of close to 70%. This is unquestionably one of the best and largest wind resources in the world.
So why has it gone undeveloped especially now when equipment costs are on the decline, interest rates are at historic lows, and turbine generator output has close to doubled. The project is economically viable and will reward investors and stakeholders for years to come. In addition BC’s NW is seeing an increase in mining activity and the possible construction of an LNG terminal which all leads to increased demand for electricity.
This is a very good question and one that I have struggled with for a while. My conclusion is that in fact renewable energy projects of this scale require a fair amount of vision and fortitude. There are no offshore wind farms in Canada and BC has only just recently seen wind farms developed on land. So it is understandable that local and provincial governments would be unfamiliar and reluctant to endorse this type of project when BC is blessed with an abundance of Hydro generation. If this project were situated in Europe it would have been constructed years ago. On the other hand companies like Google, Yahoo, and Facebook have made significant investments in renewable energy over the years. These technology based companies invest because they are accustomed to developing a strategy that has yet to gain popular acceptance or is mainstream.
So, who will step up to nudge this great project forward. If this resource (wind) were gold, diamonds or oil, no doubt industry would. Venture capitalists love this kind of stuff and are used to risk reward scenarios. Or better yet how about the people of BC where is your voice. The wind is free and there is an abundance of it so why not harvest it. The benefits are too numerous to ignore don’t you think.