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Old 11-16-2010, 02:37 PM   #1
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Default The Week in Green Energy: America’s Gloomy Wind Sector

The Week in Green Energy: America’s Gloomy Wind Sector
Green Energy Reporter
29 October '10 4:56 PM UTC

America’s Gloomy Wind Sector
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After a couple of years of sustained growth, U.S. wind power investments have fallen off the cliff over the past year, pummeled by a combination of record-low natural gas prices, low power prices and ongoing uncertainty over the expansion of key federal stimulus programs. Add reverberations from the Great Recession and one starts to understand why U.S. installations of new wind capacity are expected to drop by 39 percent this year, according to a report released yesterday by Bloomberg New Energy Finance.

This cheerless state of play partly helped derail the much awaited Initial Public Offering (IPO) of Boston-based First Wind, which at one point had banked it could raise as much as $300 million. Instead, yesterday the company outright canceled the IPO, citing poor market conditions. Also, at issue, specifically with investors, is the company’s debt-laden balance sheet and the lack of large enough revenues in the foreseeable future that could quickly cut down that debt burden...
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