Message #23 From:
Stock News Bot Date: November 7, 2008 07:56:24 AM
NCEN Stock:NACEL Energy Updates Blue Creek Texas Wind Energy Project
DENVER, CO -- (Marketwire) -- 11/07/08 -- NACEL Energy Corporation (OTCBB: NCEN stock)
(FRANKFURT: 4FC) ("NACEL Energy"), a wind power company in business to
generate clean, renewable energy
for America, today confirmed it has signed a long term wind development
rights agreement covering 2082 acres of land for its Blue Creek wind energy project in Texas -- an
area approximately 25% larger than previously anticipated by the Company.
The larger land parcel secured for wind power development means NACEL
Energy's Blue Creek project may have greater generating potential than
first determined by the Company. NACEL Energy's analysis indicates that the
construction of a series of 10 MW phases is optimal and that 30 MW or more
of generating capacity at Blue Creek may be achievable at project build
out.
NACEL Energy's Blue Creek project is located in Moore County, in the Texas
Panhandle. According to the Texas State Energy Conservation Office (SECO),
the Panhandle contains the State's "greatest expanse of high quality
winds." SECO's research indicates that while Class 4 wind locations such as
Blue Creek comprise just 4.38% of the land area of Texas, these lands, in
their aggregate, could supply 100% of the State's (1995) electric power
consumption. (Source: SECO website, "The Energy Report 2008" Chapter 11
(Wind Energy), Exhibit 11-9)
Collection of site specific wind data has commenced at Blue Creek with the
installation of a 60 meter (200 ft.) NRG meteorological tower transmitting
data to NACEL Energy, via an Iridium satellite uplink. While the data is
collected additional important development milestones including, without
limitation, interconnection engineering, turbine engineering and obtaining
turbine debt financing, must be completed by NACEL Energy. Accordingly, the
Company cautions that project completion at Blue Creek is not expected
until at least 2010.
NACEL Energy Chief Executive Officer, Brian Lavery, stated:
"Securing 2082 acres for NACEL Energy's Blue Creek project in a long term
development agreement, and the collection of site specific wind data which
will enable future project engineering, are important milestones in the
Company's pursuit of our corporate objective of 1000MW of wind power under development by
2010."
About NACEL Energy Corporation (OTCBB: NCEN)
NACEL Energy is one of the first publicly traded companies in the nation
developing utility class wind energy projects with the participation of
local landowners and partners. NACEL
Energy has commenced development on its Blue Creek and Channing Flats
projects in the Texas panhandle and anticipates a total of 50 MW of new
domestic wind power upon their completion. Also, NACEL Energy is pursuing
development of a three phase wind energy project in the Dominican Republic
which, if successful, would supply clean, renewable, wind power to a region
which relies predominantly on fossil-fuels. NACEL Energy was founded in
2006 and successfully completed its IPO in December of 2007.
Statements in this press release relating to NACEL Energy's plans,
strategies, economic performance and trends, projections of results of
specific activities, and other statements that are not descriptions or
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 words such as "should," "may," "will," "anticipate,"
"expect," "estimate," "intend" or "continue," or comparable words or
phrases. This press release cautions that NACEL Energy must undertake and
complete many steps in the development model before the generation of wind
energy can commence. Among the numerous items which have to be completed in
this regard include, without limitation, obtaining pertinent agreements and
permits, construction of project facilities, satisfying financial
requirements and other burdens. Interested persons are encouraged to read
the SEC reports of NACEL Energy, particularly its Annual Report on Form
10-KSB for the fiscal year ended March 31, 2008, and its Quarterly Report
on Form 10-Q for the quarter ending June 30, 2008, for meaningful
cautionary language disclosing why actual results may vary materially from
those anticipated by management.
