New York [RenewableEnergyAccess.com] The wind industry has been growing at 28% a year for the past five years, and if growth trends continue at this pace as is expected, wind capacity will double about every three or four years, claims the release for “Investing in Wind Energy,” a report just released by Progressive Investor.“In the three years since we produced our first report, Investing in Wind, we’ve seen the complexion of the industry change from a blossoming, mostly regional industry based in Europe, to a worldwide industry that is becoming increasingly corporate, and experiencing growing pains in the process,” notes Rona Fried, Editor. Renewable energy project finance is up from US$10.8 billion in 2004 to $18.2 billion last year. The preponderance is in wind (72%), with the U.S. leading the world with $3.9 billion invested in 2005. The wind industry used to be centered in Europe, mostly Germany. Now 50 countries are actively installing turbines, employing 100,000 people. Manufacturers of wind turbines have become global companies thanks to government support, renewable energy certificates (RECs), investors and wind park developers. Wind park ownership is consolidating, and one-third of the world’s wind capacity comes from the top 20 wind farm owners. Spanish utility Iberdrola and U.S.-based FPL Energy ended 2005 tied as the world leaders in wind farm ownership with 3400 MW in service, followed by Spanish Acciona Energia. The release reports that the world wind turbine market is dominated by 10 major companies that control almost 100% of the market: Vestas (34%), Gamesa (18%), Enercon (15%), GE Wind (11%), Siemens (6%), Suzlon (4%), REpower (3%), Mitsubishi (2%), Ecotecnia (2%) and Nordex (2%). Commenting on the turbine shortage, currently a major problem for the industry, Mark Cox, Managing Director of New Energy Fund, says, “Wind has accelerated faster than the wildest dreams of the turbine makers. Because it requires such a huge capital investment, management hasn’t added enough capacity in advance and now has to catch up.” This research identifying wind as the world’s fastest growing energy industry delves into its investing potential, is from Progressive Investor, a monthly newsletter on renewable energy sectors that guides investors and advisors toward sustainable investments.