Jan 29 2008
NACEL Energy Corporation, an emerging developer and aggregator of wind power infrastructure generating profitable, clean, renewable energy for America, today announced capital funding commitments totaling $3.2 million. All proceeds will be allocated to the Company's ongoing development of 80 MW of new wind power generation facilities (enough energy to supply 25,000 homes) first announced by NACEL Energy, January 10th 2008.
NACEL Energy is one of the first companies in the nation developing COMMUNITY WIND -- utility-scale wind energy projects using state-of-the-art turbines with a sustainable footprint and local partners. COMMUNITY WIND projects are generally less than 20 MW and can enjoy a competitive advantage over other forms of wind energy development, including faster permitting times, local political support and additional government incentives.
In return for an equity stake, NACEL Energy structures innovative financial partnerships with ranchers, farmers and rural electric co-operatives, complementing the federal incentives promoting wind energy development including the Production Tax Credit (PTC) and Clean Renewable Energy Bonds (CREBs), and serving to improve wind energy project economics and expedite timelines.
On November 19th 2007, NACEL Energy received a warrant exercise notice and subscription receivable note totaling $1.2 million, pursuant to a selling shareholder's shares registered on Form SB-2, declared effective June 7th 2007. On January 14th 2008, NACEL Energy entered into an investment banking agreement and agreed to terms relating to the placement of an additional $2 million of capital.