NACEL Energy Achieves Objectives With 640 MW Wind Power in Development, Sets New 1000 MW Target and Prepares for Rapid Expansion
June 03 2008 - 7:00AM
Marketwired
CODY, WY (FRANKFURT: 4FC) ("NACEL Energy"), a growing wind power
company in business to generate clean, renewable energy for
America, reports it has achieved its initial corporate goal of 80
MW of wind power generation projects under development, first
announced January 10, 2008. With 640 MW of generating capacity now
in the development phase, NACEL Energy is currently working to
accomplish two new objectives: 1000 MW of new wind energy projects
underway by 2010 and the listing of its shares on the American
Stock Exchange (AMEX).
To achieve its two newly stated goals, Mr. Dan Leach has been
promoted from Managing Director of Operations to President. Prior
to joining NACEL Energy, Mr. Leach served as a senior wind energy
development consultant for Duke Energy Generation Services Wind
LLC, a subsidiary of Duke Energy Corporation of Charlotte, NC.
Since 1995, Mr. Leach has participated in all phases of the
development and construction of 21 Greenfield utility class wind
power generation facilities.
NACEL Energy currently has 40 MW of domestic utility class wind
power under development in Texas with its Blue Creek and Channing
Flats projects. NACEL Energy has also teamed with established
infrastructure financier Ridge Partners, LLC to construct 600 MW of
new wind projects in the Caribbean and Latin America. To further
accelerate growth, NACEL Energy is augmenting its 3 person
Operations Team reporting to Mr. Leach, to include an additional
wind energy field developer focused on U.S., Latin American and
Caribbean regions. The Company expects to announce the appointment
in the near term.
Incoming NACEL Energy President Dan Leach stated:
"Our experienced Operations Team, our key Texas wind power
generation projects at Channing Flats and Blue Creek, and our new
Latin American & Caribbean projects, in an environment of
rising demand for wind energy globally, have enabled NACEL Energy
to achieve our initial corporate objective of 80 MW of wind power
in development, a full two years ahead of schedule."
Mr. Brian Lavery, NACEL's outgoing President and a founder of
the Company, will now serve as Chairman of the Board of Directors.
Mr. Lavery brings more than 20 years of renewable and conventional
energy experience to the position. Mr. Lavery is tasked with
fulfilling the stringent corporate governance standards of the
senior AMEX exchange, including the recruitment of three
outstanding energy industry veterans to serve as independent
directors. NACEL Energy is seeking an AMEX listing to access a
deeper pool of capital, increase its visibility among institutional
investors and demonstrate its commitment to shareholder
accountability. The Company expects to announce independent
directorship appointments in the near term.
About NACEL Energy Corporation (OTCBB: NCEN)
NACEL Energy Corporation is a rapidly growing wind power
generation company developing clean, renewable energy. NACEL Energy
is among the first in the nation to develop utility class wind
energy projects with a sustainable footprint and the participation
of local partners. The Company currently has 640 MW of domestic and
international wind energy projects under development with a goal of
1000 MW by 2010. NACEL Energy was founded in 2006 and is
headquartered in Cody, Wyoming.
For more information visit our website www.nacelenergy.com
NACEL Energy
The WIND POWER COMPANY?
Notice regarding Forward-Looking Statements
Statements in this press release relating to NACEL Energy's
plans, strategies, economic performance and trends, projections of
results of specific activities or investments, and other statements
that are not descriptions of historical facts may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking information is subject to risks and
uncertainties, and actual results could differ materially from
those currently anticipated due to a number of factors, which
include, but are not limited to, risk factors inherent in NACEL
Energy's business. Forward-looking statements may be identified by
terms such as "may," "will," "should," "could," "expects," "plans,"
"intends," "anticipates," "believes," "estimates," "predicts,"
"forecasts," "potential," or "continue," or similar terms or the
negative of these terms. Matters discussed in today's news release,
including, without limitation; the belief that the business
assumptions underlying the statements NACEL Energy "currently has
40 MW of domestic utility class wind power under development in
Texas with its Blue Creek and Channing Flats projects," has teamed
to "construct 600 MW of new wind projects in the Caribbean and
Latin America," and intends to seek "the listing of its shares on
the American Stock Exchange," and all other such similar statements
of belief, are forward-looking statements that involve a number of
risks and uncertainties. The actual future results of NACEL Energy
could differ from these statements. Factors that could cause or
contribute to such differences include, but are not limited to, the
fact the Company has not yet secured the power purchase agreements,
permitting approvals or turbine acquisition financing required to
build its planned wind energy projects, and may not in the future;
the fact the Company does not currently meet the listing standards
of the American Stock Exchange, and may not in the future; the
other additional factors discussed in "Risk Factors" and other
sections of NACEL Energy's Securities and Exchange Commission
filings available at www.sec.gov. Although NACEL Energy believes
that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements and NACEL Energy accepts no
obligation to update these forward-looking statements.
Contact: Nacel Energy Investor Services 1-888-242-5848
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