The two parties are now working to sign a definitive agreement "in the next few weeks" that would see the unnamed developer provide technical expertise and financial resources for a 400MW wind farm, Naikun added.
Naikun had engaged numerous offshore wind companies before signing this "indicative offer", according to president and CEO Michael O’Connor.
The Canadian company had been exclusively working with Ørsted to co-develop the project in the Hecate Strait, east of the traditional territory of the indigenous Haida Nation.
Naikun has provincial and federal regulatory approvals for a 400MW wind farm and construction could begin within two years of a power purchase agreement being secured.
Any final agreement would be subject to shareholder, regulatory and Toronto Stock Exchange approval, Naikun added.