Many Big Players Drawn to Alternative Energy by Tax Credits Are Sidelined or Kaput
On Michigan's "thumb," a broad peninsula whose gusts make it one of the best places in the U.S. to site a wind farm, Noble Environmental Power has erected 30 huge wind turbines -- 16 more will finish the job.
But the project was hit by a financial gale last month when key underwriter Lehman Brothers went bankrupt. With Lehman out, Noble was forced to sell in a hurry. Three more Lehman-financed wind-power projects in New York are also in doubt, according to published reports.
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