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Green IPO Watch at Renewableenergystocks.com- Wind Energy Company, NOBLE ENVIRONMENTAL POWER, SEC Filing
POINT ROBERTS, WA and DELTA, BC— September 3 , 2008 -- www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within Investorideas.com,reports on wind energy company, NOBLE ENVIRONMENTAL POWER, filing for and IPO of 23,437,500 shares of common stock with the Securities and Exchange Commission on August 29, 2008.
The Company has applied to have its common stock listed on The NASDAQ Global Market under the symbol "NEPI."
As filed with the Securities and Exchange Commission on August 29, 2008
SEC filing : http://www.sec.gov/Archives/edgar/data/1381415/000104746908009778/a2185763zs-1a.htm
Company description from the filing :
“We are an independent wind energy company operating 282 megawatts, or MW, of electrical generating capacity with more than 950 MW of additional capacity that we expect to commence operations during 2008 and 2009. We are focused on developing, financing, constructing, owning and operating windparks in attractive energy markets in the United States. Our strategy is to grow our business principally through organic development in regions with deregulated power markets, acceptable wind resources and favorable legislative and economic incentives such as renewable portfolio standard programs and active renewable energy certificate markets. Through renewable portfolio standard programs and renewable energy certificate markets, we are able to monetize the environmental attributes associated with our power, in addition to generating revenue from the actual power we produce. Operating in these attractive deregulated energy markets also enables us to execute our energy hedging strategy, which helps stabilize our power generation sales while allowing us to benefit from future increases in energy prices.
We were founded in August 2004 and commenced operations of our first windparks in March 2008. We have grown into a fully integrated wind energy company with 179 employees, with the capability to develop, finance, construct, own and operate our windparks. We will utilize our understanding of the commodity markets to site our windparks in attractive regions and to monetize the output of our projects effectively.
In addition to our current capacity of 282 MW, we have begun construction of additional windparks in New York and Texas that we expect will provide an additional 465 MW of capacity in 2008. We plan to grow our capacity significantly over the next several years. By the end of 2012, we expect to have 3,851 MW of capacity as we further expand into attractive wind energy markets in Maine, Michigan, Minnesota, New Hampshire, Pennsylvania, Vermont and Wyoming. In addition, we continuously identify and evaluate new windparks as part of our core business strategy. Windpark project development has been and will continue to be one of our core strengths and areas of focus. Based on our historical success in identifying sites for potential windpark projects, we expect that these project development efforts will result in an additional 4,000 MW development pipeline of windparks, which could be constructed after 2012.
We currently have contracts in place with General Electric, or GE, to purchase all of the turbines required for all of our windparks slated for construction through 2009 as well as turbines representing 71% of the MW needed to support our windparks slated for construction in 2010. We believe that our performance under the five turbine supply agreements that we have entered into with GE (representing a total of 1,815.0 MW of turbines) strengthens our ability to obtain additional turbines for 2010 and subsequent years.”
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