Today in Cleantech

The headwinds were too much for First Wind. The Boston-based wind farm developer canceled its IPO this morning, one day after it dropped its per-share price range to $18 to $20 down from $24 to $26. The company cited unfavorable market conditions, but analysts noted it had losses of $233 million and outstanding debt of $582.2 million as of the end of September, putting it at risk of default. First Wind joins a list of canceled greentech IPOs so far this year, including thin-film solar module maker Solyndra and China’s Trony Solar. In First Wind’s case, it also has to fight headwinds in its domestic market — Bloomberg New Energy Finance reports that 2010 U.S. wind power installations are expected to fall 39 percent compared to 2009.

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