A Connecticut-based wind power company plans to be the first solely focused wind energy business in the U.S. to go public with an Initial Public Offering (IPO) on the Nasdaq later this year.
Noble Environmental currently operates 282 megawatts of electrical generating capacity in New York state and has 950 megawatts that it expects to bring online in 2008 and 2009. By the end of 2012, it expects to have 3,580 megawatts of capacity by expanding to other states, including Maine, Minnesota and Wyoming.
No other company focused exclusively on wind power generation has ever launched an IPO in the U.S., although there have been 17 such offerings in other parts of the world since 1995, according to data tracker Dealogic. But it was inevitable that a wind-related offering would come to market in the U.S., given the growth in the industry and a rise in private investments in the sector, says Randall Swisher, executive director of the American Wind Energy Association, a trade group that promotes wind power.
The article goes on to point out that Noble Environmental just started operating wind farms three months ago. But the company is putting its trust in the growing demand for renewable and clean energy sources, as well as hopes that legislation supporting wind power will be renewed by Congress.