- Business
- Oceanic Wind Energy Inc. Oceanic Wind Energy Inc. operates as a renewable energy company focused on offshore wind development in Canada. The company develops the Oceanic Wind project, a utility-scale offshore wind energy initiative located in Hecate Strait on the north coast of British Columbia near Stephens Island, approximately 30 kilometers west of Prince Rupert; this project harnesses one of the world's strongest and most consistent wind resources, featuring average speeds exceeding 10 meters per second, a gross capacity factor over 60%, and reliable power production 97% of the time, positioning it to support British Columbia's clean energy goals, green hydrogen production, and reduced fossil fuel dependency while meeting CleanBC climate targets. Founded in 1957 and headquartered in Vancouver, British Columbia, Oceanic Wind Energy Inc. targets regional electricity demands in northwest BC, including the Port of Prince Rupert and expanding industrial sectors, through partnerships with First Nations and established offshore wind developers. In recent developments, the company completed a share purchase agreement in August 2024 to reacquire its subsidiary Naikun Wind Development Inc. from Elemental Energy Inc. for CAD 1.5 million, securing new strategic funding and partnership to advance the Hecate Strait project amid growing regional power needs; additionally, in July 2025, Oceanic Wind Energy Inc. and Coast Tsimshian Enterprises Ltd. obtained an Investigative Use Permit for initial offshore wind development studies in Hecate Strait, marking a key regulatory milestone for Canada's first such project.