– Over at Breaking Wind on October 24 we noted that First Wind wanted to trade on NASDAQ. Michael Hennessy, a wind energy analyst at Bloomberg New Energy Finance in New York City, made this comment in the The Kennebec Journal, “It will be read as a vote of confidence or a vote of no confidence for the industry.” We suggested perhaps the vote might be seen as “reflecting the confidence investors have that elected officials will continue to support this ridiculous technology with continued mandates and tax subsidies.”
Here comes the pitch – Strike One!
Here comes the pitch – Strike Two!
– Just a couple of hours later, we catch this post over at the Industrial Wind Action Group – First Wind pulls IPO, shares of two others rise, suggesting that investors didn’t even come to the door, let alone knock.
Here comes the pitch – Yer Out!
– First Wind, heading to the dugout, was heard to mutter that “The terms that the IPO market was seeking at this time were not attractive to the company.” Well, we don’t think it was a bad call. We just happen to think investors are pretty savvy folks.
And that folks, is how a strike-out for First Wind is actually a HOME RUN for those of us who happen to believe industrial wind has no position to play in the US energy game’s major league.