First Wind IPO Review

A new IPO from the CleanTech sector is going to hit the markets very soon. The IPO or initial public offering belongs to First Wind, a company based in Newton, Massachusetts which is in the business of wind power development.


What is the size of the First Wind IPO?
The First Wind IPO is expected to be of around 450 million USD.

What are the IPO dates of First Wind IPO?
The listing date, IPO subscription dates are not available for First Wind IPO at the time of writing this article.

Who are the lead managers for First Wind IPO issue?
Credit Suisse, Goldman Sachs and JP Morgan are lead underwriters for the First Wind IPO issue.

Where will First Wind IPO shares be listed?
The First Wind IPO shares will be listed on NASDAQ stock exchange. The Symbol selected by the First Wind Company is "WINDY".

Where will the funds raised by First Wind IPO be used?
The proceeds will be used to repay debt and to fund part of its 2008-9 capital expenditures.

What are the business valuations and market prospects of First Wind IPO?
First Wind is an independent North American wind energy company focused exclusively on the development, ownership and operation of wind energy projects. Working in partnership with communities, First Wind provides revenue to states and towns, building stronger local economies while protecting the environment for future generations. Wind energy isn’t just our business. It's our passion.

Founded in 1995, First Wind develops, manages and owns 3 wind farms, located in the Northeast, West and Hawaii, that produce 92 megawatts. It has a further 182 megawatts of capacity under construction and a pipeline of 5,564 megawatts.

The company hopes to have around 1,100 megawatts of operating capacity by the end of 2010 and 2,300 megawatts by the end of 2013. It reported $12.3 million in revenue for 2007, including a net loss of $68 million; it currently employs 130 people.