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Houssian takes reins at Naikun

Canadian entrepreneur raises holding in offshore project to 20%

Canadian entrepreneur Joe Houssian has taken the reins at the 396MW Naikun offshore wind farm in British Columbia.

The long-time company director this week completed a previously announced injection of $750,000 into the development business in exchange for 10m shares, pushing his overall holding to nearly 20%.

Houssian will lead the charge at the consented Naikun and work "at no cost" with the board, suppliers including Siemens and staff to complete the long-stalled project.

Cash raised from the deal will be used for general corporate purposes including working capital to further development at what is now being called the Haida Energy Field project.

Houssian founded the billion-dollar tourism business Intrawest, which he sold in 2006. He is chairman and founder of renewables developer Elemental Energy.

Image: Houssian's holding in the project is now almost 20% (reNews)

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