Article contentVANCOUVER, British Columbia, May 28, 2026 (GLOBE NEWSWIRE) — Ming Yang Smart Energy Group Limited (“Ming Yang”)( (MYSE.L) and Oceanic Wind Energy Inc. (“Oceanic Wind”)(NKW.H) are pleased to announce the signing of a Memorandum of Understanding (“MOU”), a strategic investment partnership for the development of a major offshore wind energy project in the Hecate Strait off the northwest coast of British Columbia. Sign In or Create an Accountor View more offersArticle contentThe project is being advanced by Coast Tsimshian Enterprises (CTE) and Oceanic Wind
Energy Inc., CTE is a 50/50 partnership with the Metlakatla and Lax Kw’alaams First Nations. The initiative represents one of Canada’s largest Indigenous renewable energy opportunities and has the potential to generate between 1.5 GW and 2 GW of clean electricity for British Columbia. The Hecate Strait wind resource is recognized as one of the world’s strongest, most consistent with winds exceeding 10 m/s, annual Capacity Factors over 50% and winter Capacity Factors of 65%; when BC Hydro needs the power.Article contentWe apologize, but this
video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentUnder the terms of the MOU, Ming Yang intends to evaluate opportunities to provide equity investment, debt financing, and strategic partnership support for the development, construction, and long-term operation of the offshore wind project. During the 90 day due diligence period the size and scope of the investment will be determined by the parties.Article contentTop StoriesGet the latest headlines, breaking news and columns.By signing up you consent
to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don’t see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“This agreement reflects the growing international confidence in Indigenous partnerships in clean energy development in Canada,” said Michael O’Connor, P. Eng., President and CEO of Oceanic Wind Energy Inc. “By working together
with Ming Yang, Coast Tsimshian Enterprises, we are taking an important step toward building a globally significant offshore wind industry that creates sustainable economic opportunities while supporting British Columbia’s transition to clean energy.”Article contentMing Yang Smart Energy Group, a global leader in renewable energy technology and offshore wind systems, have expressed strong interest in supporting the project’s long-term success through capital investment, technical, building and operating expertise.Article contentArticle contentThe parties emphasized that the MOU is non-binding.Article contentThe Board of Oceanic Wind Energy Inc. is also
pleased to announce the retention of Falkirk Environmental Consultants to initiate work on the environmental approvals process for the project, beginning with preparation and submission of the Initial Project Description (IPD). This work represents an important early milestone in advancing the regulatory and environmental assessment framework necessary to support responsible offshore wind development in British Columbia.Article contentAbout Oceanic Wind Energy Inc.Article contentOceanic Wind Energy Inc. is a Canadian renewable energy development company, listed on the TSX (NKW.H) with a focus on advancing offshore wind opportunities
in British Columbia. The company is committed to working collaboratively with Indigenous communities and stakeholders to develop sustainable energy infrastructure that supports long-term economic and environmental benefits.Article contentAbout Ming Yang Smart Energy Group LimitedArticle contentMing Yang Smart Energy Group Limited is a Chinese energy provider that produces and installs wind, solar, storage, and hydrogen infrastructure, a public company listed on the Shanghai Stock Exchange and on London Stock Exchange (MYSE.L) is a leading global renewable energy company specializing in the development and manufacture of offshore
and onshore wind turbine systems, energy storage solutions, and smart energy technologies.Article contentNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.Article contentMedia ContactsArticle contentOceanic Wind Energy Inc.Michael O’Connor, P. Eng.President & CEOmoconnor@oceanicwind.caArticle contentMing Yang Smart Energy Group LimitedLarry WangVP of Mingyang / Chief
Rep for Americawanglihe@mywind.com.cnArticle contentArticle contentArticle contentArticle contentArticle contentArticle content
Ming Yang, Oceanic Wind Energy, Hecate Strait, offshore wind, memorandum of understanding, Coast Tsimshian Enterprises, Metlakatla First Nation, Lax Kw’alaams First Nation, Indigenous renewable energy, British Columbia, environmental approvals, Initial Project Description, Falkirk Environmental Consultants, TSX NKW.H, London Stock Exchange MYSE.L
So this is offshore wind in BC, right? Sounds like they’re gonna steal more electricity from the ocean or whatever.
Oceanic Wind? That name alone makes me think it’s mostly marketing. 1.5 to 2 GW sounds huge but I’m guessing it’ll get delayed for years.
Wait I thought BC already has enough power. If BC Hydro needs it in winter, why not just build more gas plants? Also MOU means nothing right, it’s basically just a handshake.
I don’t trust these “due diligence” periods. They say strong winds and 65% winter capacity like it’s guaranteed, but then they’ll say the community approval took forever. Plus I saw “Hecate Strait” and thought of shipping lanes so… are they gonna mess with that too? Not saying it’s bad, just feels like another project that ends up costing everyone.