Business & Finance
Business and Finance
Business and Finance
Wed, July 15, 2009
Tue, July 14, 2009 NACEL Energy Corporation: NACEL Energy Submits Interconnection Plan to Swisher Electric Cooperative
DENVER, CO--(Marketwire - July 14, 2009) - NACEL Energy Corporation ( SECI serves an area of 1,871 square miles in six counties in the Texas Panhandle and is part of Touchstone Energy's group of electric cooperatives. NACEL Energy's complete submission to SECI included requisite engineering drawings, wind turbine selection and proposed date of commissioning (operations). As NACEL Energy previously confirmed on January 21st, 2009, an NRG Systems meteorological tower was erected at Swisher, which comprises 1573 acres in Donley County, Texas. According to the Texas State Energy Conservation Office (SECO), the Texas Panhandle exhibits the State's "greatest expanse of high quality winds." Last quarter, the Company commissioned an interim analysis of site wind data collected at Swisher and results met expectations. 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 delays which can adversely impact other company's [ wind power ] projects. The Company's work in this regard is currently focused in Texas, Arizona, Kansas and Illinois. NACEL Energy anticipates a period of several months, or longer, before a final interconnection agreement can be executed with SECI. In the interim, important additional development milestones are underway including, without limitation, obtaining turbine debt financing and a power purchase agreement. Accordingly, the Company cautions that commissioning (operations) at Swisher is not expected until July 2010, or later depending on future events. NACEL Energy Chief Executive Officer, Brian Lavery, stated: "With our submission of an Interconnection Plan coupled with delivery of engineering drawings and other requisite documentation to SECI, as confirmed today, we are able to confirm that the pace of development at Swisher is proceeding satisfactorily and as contemplated by the Company." About NACEL Energy Corporation ( NACEL Energy is one of the first publicly traded companies in America exclusively developing clean, renewable, utility scale [ wind energy ]. The Company has commenced work at its Leila Lakes, Hedley Pointe, Swisher, Channing Flats and Blue Creek projects, all located in the Texas Panhandle, and currently anticipates generating 100 MW, or more, of new wind power upon their completion. In addition, the Company continues its work assessing the feasibility of wind project opportunities in Arizona, Kansas, Illinois and the Dominican Republic. NACEL Energy was founded in 2006 and successfully completed its IPO in December of 2007. For more information visit our website [ www.nacelenergy.com ] 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, 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 31st, 2009, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management. NACEL Energy The WIND POWER COMPANY™
