Wind energy company Noble Environmental Power Inc. has filed for an initial public offering of common stock, according to a Securities and Exchange Commission filing in May. The company did not disclose the expected size or price range of the IPO, but indicated the offering may total up to $375 million but is subject to change. The 4 year old company began operating its first wind farm in March of this year and has 282 megawatts, or MW, of electrical generating capacity through wind parks in NY. The company has also started construction of additional wind parks in New York and Texas that it expects will provide an extra 465 MW of capacity in 2008 growing to 3850 MW of capacity in the next 4 years.
Lehman Brothers, JP Morgan Securities and Credit Suisse Securities are underwriting the IPO which could be oversubscribed if the hype around wind energy continues. Noble plans to list its shares on the Nasdaq Stock Market under the symbol “NEPI.”