The Global Wind Energy Council (GWEC) has come up with some interesting stats and it seems 2008 has been a good year for the wind power industry.

Global wind energy capacity grew by 28.8 percent last year to reach total global installations of more than 120.8 GW at the end of 2008. The U.S. and China were named the leaders in terms of  newly installed capacity, as growth in the U.S. wind industry increased the nation’s total wind power generating capacity by 50 percent, while China once again doubled its installed capacity.

“These figures speak for themselves: there is huge and growing global demand for emissions-free wind power, which can be installed quickly, virtually everywhere in the world. Wind energy is the only power generation technology that can deliver the necessary cuts in CO2 in the critical period up to 2020, when greenhouse cases must peak and begin to decline to avoid dangerous climate change,” said Steve Sawyer, Secretary General of GWEC.

“The 120 GW of global wind capacity in place at the end of 2008 will produce 260 TWh and save 158 million tons of CO2 every year.”

American Superconductor Corp. has found success in the wind energy industry by breaking from the pack and focusing on the licensing of wind turbine designs and the sale of wind turbine components to companies in China.

Conveniently, the Chinese wind energy market is one of the fastest growing in the world at number three just behind the U.S. and Spain. Good for American Superconductor Corp. and good for the Earth. Anything that eases China’s dependence on coal power gets two thumbs up from the Eco Ninjas.

American Superconductor Corp. is definitely booming. With some serious growth in profits from the 2007 fiscal year of $112 million, to the current fiscal year which is expected to be around $180 million. Next fiscal year the company expects to make over $225 million.

Nice for the environment and I’m also thinking nice for the pocketbook. American Superconductor Corp. is listed on NASDAW as AMSC, if you’re so inclined. *

*All investment advice found on the Ninja Network is not only subject to your discretion but is also probably bad advice. We are ninja bloggers, not day traders.