Friday, February 13, 2009 11:46:19 AM
http://ih.advfn.com/p.php?pid=nmona&cb=1234543157&article=36251155&symbol=NB^NCEN
WASHINGTON, Feb. 13 /PRNewswire/ -- America's leading corporations are turning off fossil-fuels and switching to clean, green wind power. The trend began during the Bush years, but recent announcements from some of America's largest corporations indicate the switchover may be accelerating, in harmony with the Obama administration's strong support for both wind and solar energy.
On Tuesday Dow Corning announced it is purchasing nearly 100% of the electrical load required for the Company's corporate headquarters in Midland Mich. where more than 1100 employees work. Dow Corning is equally owned by Dow Chemical (NYSE:DOW) and Corning (NYSE:GLW) and is also a manufacturer of silicones used to make wind turbines run more efficiently.
Wells Fargo (NYSE:WFC), the San Francisco based bank, has offset its entire corporate energy consumption with wind power. The Company was recognized in the latest January 09 2009 Environmental Protection Agency (EPA) "Green Power Partnership" rankings as one of the nation largest Fortune 500 purchasers of wind power.
Despite the economic slowdown, the U.S. wind power industry continues to grow rapidly. In the fourth quarter of 2008 the U.S overtook Germany to become the world leader in wind power, rocketing past 21,000 megawatts of installed capacity - equivalent energy to service 5.5 million American homes, according to the American Wind Energy Association.
A report from Advisory Research indicates it is the companies building the new wind farms which may be the biggest beneficiaries of corporate America's accelerating demand for wind power. The report focuses on NACEL Energy (OTC Bulletin Board: NCEN) which has four wind farms underway in the Texas Panhandle - regarded as the nation's best wind area. The analysts at Advisory Research have a $3.07 valuation on NACEL which closed yesterday at $1.70.
Before the Bell Publishing LLC advises C.M. Biddick is a member of the Financial Industry Regulatory Authority (FINRA) CRD number 2382884
DATASOURCE: Before the Bell Green Energy Watch
CONTACT: Before the Bell Publishing LLC, 1-888-249-3011
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