Oceanic Wind Energy Inc V.NKW.H

Alternate Symbol(s): NKWFF

Utilities Utilities - Independent Power Producers

Oceanic Wind Energy Inc. is a Canada-based renewable energy company with a focus on an offshore wind energy project. The Company's primary business is the development of renewable energy projects. It has been developing an offshore wind project on the north coast of British Columbia in Hecate Strait.

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Oceanic Wind Energy Inc

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Post by BayWallon Feb 26, 2024 4:05pm

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Post# 35899968

Cost factor

Cost of an offshore windfarm is the critical factor. The company says that the project can be competitive, based on the capacity factor 60%+ (vs about 35% onshore) and that the wind blows 97% of the time. The large size of the turbines will be a plus.

But still, upfront costs will be greater, than for onshore windfarms.

BC Hydro as set the max at 200MW for this power call. Unless Oceanic has found a large offtaker for anything larger, it may be tough going convincing a developer to invest.

Seems like there is the potential to help communities. Also developers like CPP Investments (via Pattern Energy) have dreams of green hydrogen production and large windfarms in the vicinity. Maybe talk to them for large offtake agreements.

An article from Australia, illustrates the problems being encountered with windfarms in general.

Energy Minister Chris Bowen ‘blind to reality’ as he proceeds with unaffordable plan for a wind farm off the coast of WA | Sky News Australia

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