Message #35 From:
Stock News Bot Date: July 28, 2009 07:58:14 AM
NCEN NACEL Energy Announces "Snowflake" Arizona Wind Power Project and Relocation of Corporate Office to Phoenix
PHOENIX, AZ -- (Marketwire) -- 07/28/09 -- NACEL Energy Corporation (OTCBB: NCEN stock news)
(FRANKFURT: 4FC) ("NACEL Energy"), a wind power company in the business to
generate clean, renewable energy,
today confirmed it has entered into a long term wind development rights
agreements covering 640 acres in Navajo County, Arizona. At project
build-out, NACEL Energy anticipates generating 10 MW, or more, clean,
renewable, wind energy at Snowflake.
The Snowflake wind energy project
evidences continued, consistent application of the NACEL Energy business
model -- unique in the U.S. wind industry. In brief, NACEL Energy
identifies interconnection points in the nation's electric grid, and then
leases nearby acreage where 6 to 18 utility class wind turbines
can be constructed, without incurring the often significant transmission
and related electric infrastructure upgrade costs and/or delays which can
adversely impact other company's wind power projects.
NACEL Energy's Snowflake is located immediately adjacent to the first wind
power facility built in Arizona, the multi-phase Dry Lake project developed
by IBERDROLA Renewables, Inc. of Portland, Oregon. IBERDROLA Renewables,
Inc. is the North American division of IBERDROLA Renewables, S.A., a
multinational company, operating in more than 20 countries, with more than
9,600 MW of installed wind power at the end of the first half of 2009.
Through an arrangement facilitated by the landowner at Snowflake, IBERDROLA
Renewables has agreed to release 15 months of wind data collected at its
Dry Lake project, to NACEL Energy, for the development of Snowflake.
The wind data from Dry Lake is entirely analogous to Snowflake.
Accordingly, NACEL Energy believes its normal development timeline has been
significantly shortened. Presently, NACEL Energy's work includes assessing
an interconnection plan for Snowflake, which could encompass either Salt
River Power, the option pursued by IBERDOLA Renewables at Dry Lake, or
alternatively, Arizona Public Service. As with all NACEL Energy's projects,
the Company's work at Snowflake will be announced in due course, as
important milestones are achieved.
In addition, NACEL Energy announces that it is relocating its corporate
offices to the Phoenix, Arizona area. The relocation of its corporate
offices should be completed within the next several weeks.
NACEL Energy Chief Executive Officer, Paul Turner, Ph.D, stated:
"Snowflake is our sixth wind
power project and our first outside of Texas. We look forward in the
years ahead to contributing to the economy of the Phoenix region with the
relocation of our corporate offices, and, upon build-out of our wind power
facility at Snowflake, to contributing to the environment of Arizona by
providing energy from a clean and renewable source."
About NCEN Stock Profile NACEL Energy Corporation
NACEL Energy is one of the first publicly traded companies in America
exclusively developing clean, renewable, utility scale wind power. NACEL Energy has commenced work at
its new Snowflake project in Arizona in addition to its Leila Lakes, Hedley
Pointe, Swisher, Channing Flats and Blue Creek projects, all located in the
Texas Panhandle. NACEL Energy currently anticipates 110 MW, or more, of
new wind power upon their completion. The Company is also presently
assessing the feasibility of wind power project opportunities in Kansas,
Illinois and the Dominican Republic. 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-K for the fiscal year ended March 31, 2009, for meaningful cautionary
language disclosing why actual results may vary materially from those
anticipated by management.
