Founded in 2006 and brought public through an IPO in 2007, Nacel Energy Corporation (OTCBB:NCEN) is engaged in developing and operating utility class, clean, renewable wind power generation facilities globally. Primarily, the Company develops 10-30 megawatt projects in Class 4 or higher wind corridors. Currently, Nacel has five wind energy projects that total 120 megawatts in the Panhandle of Texas, which is widely regarded as a strong wind corridor, and in northern Arizona, where wind, topography and humidity provide for ideal conditions for wind energy projects. Additionally, Nacel has three other projects under development in the U.S., as well as a multi-phase wind project being developed in the Dominican Republic. Without any additional projects, upon completion, Nacel’s projects will generate 1,000 megawatts of power; enough to power 300,000 average American homes.
The industry has been dubbed by many as the fastest growing energy business in the world. From 2007 to 2008, the wind industry grew by approximately 50% and it is estimated that global revenues from wind power will continues to grow from $63.5 billion in 2009 to $114.5 billion by 2019. This simple fact is one of the primary reasons that venture capital continues to flow into the alternative wind power industry at the rapid pace that it is currently. In the eyes of many capital venture investors, nothing quite compares to the opportunity presented by renewable energy technologies.
Earlier yesterday, Nacel Energy Corporation announced that it has signed an agreement with Arizona Public Service Company (“APS”) to complete a system impact study of its Snowflake Wind Power project in Navajo County, Arizona. Nacel has a plan in place to produce an 18.9 megawatt system into the APS electrical grid and the goal of the study is to assess and make any recommendations about the system to incorporate any necessary upgrades before incorporation into the APS grid is incorporated.
Nacel is in a prime position as not only does it have the agreement in place with Arizona Public Service Company, but it also has the financial backing to continue advancing its projects. Garden Grove, CA-based JMJ Financial is a key investor in Nacel and the allots for Nacel to stay on track with projections and schedules on not only the Snowflake Project, but all five on Nacel’s projects, both domestically and internationally. Investors reacted strongly to the news yesterday as this is an extremely positive step in the right direction for this emerging leader within the industry that is looking to capitalize for itself and its investors through providing green and clean technologies.
