Noble Environmental, of Essex, Connecticut, will be the first U.S. wind energy company to register an IPO. There have been 17 wind companies in other parts of the world who have gone public, but this is the first one for the Nasdaq. Noble, who will be listed under NEPI, has not set its price range or share size yet, but is hoping to raise $375 million. The company’s current owners, JPMorgan Chase & Co. and the Canada Pension Plan, will continue as shareholders after the IPO.
Noble is currently generating 282 Megawatts of electricity in New York State, but will be expanding to Maine, Minnesota and Wyoming, with the expectations of generating 3580 megawatts by 2012.
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GOING PUBLIC: First Wind Energy Co. IPO Planned In US