ABB_id2059
in News Departments > Projects & Contracts
print the content item

NACEL Energy Corp., a wind power company based in Denver, has retained the four wind energy projects delivered to the company rather than accept the proposal of its former CEO, Dan Leach, to transfer the wind energy projects back to him in exchange for his 1.25 million shares of the company's common stock.

The projects are the 20 MW Blue Creek and 20 MW Channing Flats wind energy projects in the Texas panhandle, the proposed three-phase 600 MW wind energy project known as Nacel Ridge in the Dominican Republic and a Kansas wind energy project for which a feasible location has yet to be secured.

"Our Channing Flats and Blue Creek wind energy projects and our ongoing efforts to reach a joint operating agreement for the proposed Dominican Republic wind energy project are key elements of NACEL Energy's strategy as we pursue our corporate objective of 1000 MW of wind power under development by 2010," says Brian Lavery, CEO of NACEL Energy.

Following Leach's departure, NACEL Energy reached an agreement with new wind power project managers and technical consultants and resumed its work in advancing development of the retained projects. Accordingly, the company anticipates it will be able to provide periodic updates to shareholders and interested parties regarding progress concerning its wind power projects, beginning in the near term.

SOURCE: NACEL Energy Corp.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015