Noble Environmental IPO Faces Crosswinds
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Noble Environmental Power's planned IPO brings good news and bad news for investors interested in the alternative energy sector.
The good news is that traders will finally have a pure-play stock in the growing market for wind power. Stocks such as Trinity Industries(TRN Quote) and Otter Tail(OTTR Quote) have shown recent momentum due in large part to their respective operations in the sector.
The bad news is that, because the market is still nascent, investing in the IPO means putting money in a company with no revenue on its income statement to date -- and nearly $1 billion in debt.
The Essex, Conn., wind-energy company is filing for a public offering -- under the ticker NEPI -- only four years after it was founded. It's seeking as much as $375 million in proceeds to finance wind-turbine supply agreements and project developments. ...
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