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U.S. Corporations Go Green
1/31/2008

WASHINGTON, Jan 31, 2008 /PRNewswire via COMTEX News Network/ --
America's largest corporations are switching to "green" power in record numbers -- pushing an already hot renewable energy industry into overdrive. In its latest quarterly rankings, the Environmental Protection Agency (EPA) recognized Intel (Nasdaq: INTC), PepsiCo (NYSE: PEP) and Wells Fargo (NYSE: WFC) as America's three leading corporate purchasers of "green" power.

According to the EPA rankings, many companies making the switch to renewable energy choose wind. Some, including Wells Fargo, sourced fully 100% of their corporate energy consumption, from wind. In total, the EPA estimates America's largest corporations now purchase 5 billion KWh of renewable energy -- exceeding the EPA's goal by 30%.

The impact on the wind energy industry has been dramatic. Last week, the American Wind Energy Association (AWEA) reported total wind power generating capacity grew by a staggering 45% in a single calendar year. U.S. wind energy companies spent $9 billion adding 5,244 MW of generation to the nation's energy mix in 2007 -- enough power to supply 1.5 million homes.

According to an online survey of Wall Street analysts, the companies building new wind energy facilities -- particularly power producers and utilities -- appear to be the beneficiaries of America's accelerating demand for wind power.

Matrix Research has a "buy" on Duke Energy (NYSE: DUK) and Lehman Brothers raised its target price on Xcel Energy (NYSE: XCEL). Both are integrated utilities -- but also important renewable energy players with wind a fast growing part of their generating capacity.

Investology Research has a "positive" buy recommendation on NACEL Energy (OTC Bulletin Board: NCEN). NACEL Energy is one of the few "pure" wind companies in the sector and earlier this month announced a major 80 MW expansion.

A Before the Bell (TM) renewable energy update.

SOURCE Before the Bell


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