Oceanic Wind Energy Inc V.NKW.H

The reason I'm holding onto this stock

[BayWall]

It has been estimated the demand for new power in the province now exceeds 10,000 MWs. Maybe offshore wind can help out-----

 

" Additionally, the current transmission line has surplus capacity for energy flowing east to Prince George and the rest of the province. Renewable energy from the NW can also provide the needed electricity to reduce the Province's dependency on fossil fuels." (Oceanic's MD&A)

 

The 9 winning wind farms have approx 1500MW name-plate capacity.  Assuming capacity factor of 40% for onshore windfarms= 600MW. Not much for $6 billion capital cost.

 

• In a 2023 expression of interest, BC Hydro received submissions from 29 companies representing more than 5,000 megawatts of new potential electricity demand, which is approximately 2.5 times the current BC Hydro transmission line capacity servicing the NW region. BC Gov News

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Maybe some proposed projects will never be built, but still, gut feel reading the above, that the twinning of the transmission line will still leave a shortage of electricity in the NW area. A shortage which can be addressed by offshore wind which has scale and efficiencies onshore can't achieve.

The thing against offshore is the cost so maybe that levels the playing field. But if lifetime revenues are greater than onshore, maybe there's room whereby the price of electricity can be competitive.