Cohocton Wind Watch: Following On Heels of First Solar (FSLR)...Here Comes First Wind (WNDY)
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


READ about the FIRST WIND Connection to the Obama Administration

Industrial Wind and the Wall Street Cap and Trade Fraud




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Monday, August 11, 2008

Following On Heels of First Solar (FSLR)...Here Comes First Wind (WNDY)

First Solar (FSLR) has grown into a $20 billion+ behemoth. So maybe that's why "UPC Wind" changed it's name to "First Wind" before filing for its IPO.

Either way, this new speculative toy--a company that develops, builds, and operates North American wind farms--will soon be on the market under the ticker "WNDY". No word yet on if it is Boone Pickens-approved.

First Wind vital facts (full S1 here):

$12 million of revenue in 2007 and $69 million of losses. Revenue in Q1 declined year over year, $2.6 million to $2.3 million.

$190 million of property, plant, and equipment (turbines, etc.)
92MW (megawatts) of capacity in operation (in Hawaii, Maine and New York), and 182MW of wind capacity under construction.

720 MW at advanced development stage, 663MW at intermediate stage, and 3,907MW at early stage planning.

$132 million in losses since inception, completed a $143.6 million tax equity financing in 2007, and a $208 million tax equity financing in January 2008.
Current shareholders include management, DE Shaw and Madison Dearborn.

First Wind wants to raise $450 million from the IPO.

The company will use the cash to pay down its revolving credit and turbine supply loan, and fund additional development activity.
Lots of wind projects under development.

Bottom line: A huge capital hog that will likely take many years (if not forever) to generate a return on its capital investment.

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Click on link to submit your SEC complaint on the
First Wind Holdings Inc. IPO public offering


TEN Reasons
Why the SEC should not allow First Wind to be listed on NASDAQ

First Wind Holdings Inc. 12/22/09 SEC S1/A IPO Filing

First Wind Holdings Inc. 7/31/08 SEC S1 IPO Filing

May 14, 2010 addition to the First Wind Holdings Inc. SEC S1A IPO Filing

August 18, 2010 amendment 7 to the First Wind Holdings Inc. SEC S1A IPO Filing

October 13, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing

New October 25, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing


FIRST WIND Lays an Egg WITHDRAWS IPO
after Wall Street no confidence in company




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