Oceanic Wind Energy Inc V.NKW.H

In today's MD&A

[BayWall]

The company got shareholder loan money from directors to continue operations.

Also new from the previous MD&A--"Discussions are also progressing with First Nations to partner in development of the project."  At least two, maybe more.

The company repeats the potential green hydrogen development near Prince Rupert from the mprevious MD&A, but also adds---"The Port of Prince Rupert has announced an important “Decarbonization Program” to reduce their carbon footprint 30% by 2030 and 100% by 2050. This equates to significant local demand in the Prince Rupert area. All these projects require power, electricity that could be provided by the Hecate Strait project."

 

Also repeats the paragraph from the previous MD&A:"Additional electrical power for this part of the province must be provided locally or via a new multi-billion-dollar transmission line that would take up to a decade to approve and complete. Providing electrical power locally is the more practical and cost-effective alternative for the fast growing commercial and industrial demand in the region. The Hecate Strait wind project is a significant utility scale project in the region that can help meet the growing demand for power".

 

"Utility scale" size is required, but is beyond the 200MW limit BC Hydro has in place for the recent power call. This issue will have to be addressed by the company and BC Hydro before the next power call.