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Energy Transition Stock List

Wind Stocks List

Wind is one of the largest pillars of the global energy transition. Use this wind stocks list to compare wind energy companies across the full value chain, from onshore and offshore turbine manufacturers to installation vessels, foundations, blades, cables, and the project developers and utilities operating the world's wind fleets.

Wind energy stocks and wind power stocks describe the same universe: listed wind companies across Europe, the US, China, and India, including pure-play turbine OEMs, offshore-focused developers, dedicated wind infrastructure funds, and diversified utilities with material wind exposure.

44 CompaniesCombined Mkt Cap: $1.28TUpdated: July 24, 2026
At a glance

  • Constituents trade across 17 listing countries, from the major global exchanges to local markets.
  • Covers turbine manufacturers, project developers and IPPs, offshore specialists and wind-heavy utilities.
  • Largest constituent: GE Vernova (GEV) at $268.91B.
  • Every addition, removal and correction is logged in List Updates below.
44 companies
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Company Ticker Mkt Cap ▼ HQ Segment
GE Vernova
GEV $268.91B 🇺🇸 United States Wind Turbine Manufacturer
GE Vernova
HQ: 🇺🇸 United States Segment: Wind Turbine Manufacturer

GE Vernova is a US-based electric power equipment and services company listed on the NYSE, spun off from General Electric in April 2024. Its Wind segment (onshore wind, offshore wind with the Haliade-X 220m platform, and LM Wind Power blades) generated approximately $9.1bn (about 24% of group revenue) in 2025 but remained EBITDA-negative at -$598M, weighed down by offshore execution issues at Vineyard Wind. Onshore wind workhorse turbines (2.8-127, 3.6-154, 6.1-158, 6.0-164) remain the volume products, with the US representing roughly 60% of onshore equipment RPO. Group-wide remaining performance obligations reached $150.2bn at year-end 2025. GEV offers one of the largest publicly traded Western wind-turbine exposures, within a diversified power-equipment group whose Power (gas, nuclear) and Electrification (HVDC, grid) segments offset wind losses.

NYSE

$268.91B

Wind Turbine Manufacturer
NextEra Energy
NEE $186.94B 🇺🇸 United States Utility (wind-heavy)
NextEra Energy
HQ: 🇺🇸 United States Segment: Utility (wind-heavy)

NextEra Energy is a Florida-based electric utility holding company listed on the NYSE, describing itself as the world's largest generator of renewable energy from wind and solar. The group operates approximately 72 GW of net generating capacity through two segments: Florida Power & Light, the largest regulated utility in Florida serving over six million customer accounts, and NextEra Energy Resources (NEER), which owned roughly 21 GW of wind across 23 US states and four Canadian provinces at end-2024 alongside 7.8 GW of solar and 3.4 GW of battery storage. NEER's contracted backlog stood at approximately 35.1 GW as of 24 July 2026, after 3.6 GW of new renewables and storage origination during Q2 2026 (including 2 GW of battery storage and 0.7 GW of wind), with a weighted-average contract life of approximately 14 years.

NYSE

$186.94B

Utility (wind-heavy)
Iberdrola
IBE.MC $158.63B 🇪🇸 Spain Utility (wind-heavy)
Iberdrola
HQ: 🇪🇸 Spain Segment: Utility (wind-heavy)

Iberdrola is a Spain-headquartered global electric utility listed on Madrid's BME and a leading onshore wind operator worldwide. At end-2025 the group operated approximately 58.3 GW of installed capacity across Spain, the UK, the US, Brazil and international markets, with wind representing the largest single technology, roughly 22 GW onshore plus around 2.5 GW offshore. Offshore wind is in active build-out: East Anglia Three (1,400 MW, UK) is under construction with a CfD secured, alongside Vineyard Wind 1 (US, via Avangrid) and the Baltic Eagle / Windanker projects in Germany. Iberdrola operates the US business through wholly owned Avangrid, which was taken private and delisted from the NYSE in December 2024, the UK through ScottishPower, and Brazil through Neoenergia, with the UK now the single largest investment destination.

Madrid Stock Exchange

$158.63B

Utility (wind-heavy)
Siemens Energy
ENR.DE $146.48B 🇩🇪 Germany Wind Turbine Manufacturer
Siemens Energy
HQ: 🇩🇪 Germany Segment: Wind Turbine Manufacturer

Siemens Energy is a German power technology company headquartered in Munich, listed on the Frankfurt Stock Exchange (DAX 40 constituent) and one of the largest pure-play energy technology companies globally, with FY2025 group revenue of €39.1bn and approximately 102,000 employees in roughly 90 countries. The group operates through four segments: Gas Services, Grid Technologies, Transformation of Industry, and Siemens Gamesa. Siemens Gamesa is the wind segment, owned 100% after Siemens Energy took it fully private in 2023, and is the #1 offshore wind OEM outside China (approximately 67% cumulative installed share outside China per company disclosures, with the SG 14/15 MW direct-drive flagship). Gamesa posted a €(1.3)bn loss before special items in FY2025. Group order backlog reached approximately €146bn at end-Q1 FY2026, and the group reinstated a dividend in FY2025.

ETR

$146.48B

Wind Turbine Manufacturer
Enel
ENEL.MI $112.06B 🇮🇹 Italy Utility (wind-heavy)
Enel
HQ: 🇮🇹 Italy Segment: Utility (wind-heavy)

Enel is a Rome-headquartered integrated electric utility listed on Borsa Italiana, with 86.9 GW of consolidated net installed capacity at end-2025 spanning Italy, Iberia, Latin America (Brazil, Chile, Colombia, Argentina) and North America. The renewables portfolio is operated through Enel Green Power and is among the largest in the world, diversified across hydro, wind, solar, geothermal and storage, with wind assets concentrated in Iberia, Brazil, Mexico and the United States. Strategy under CEO Flavio Cattaneo has emphasised capital discipline, lower country risk, and balance-sheet repair following the prior expansion phase. The 2026-2028 strategic plan targets roughly 15 GW of new renewable capacity, of which more than 75% is wind and battery storage, taking the group to more than 80 GW of renewable capacity by 2028.

Borsa Italiana (Milan)

$112.06B

Utility (wind-heavy)
Engie
ENGI.PA $80.32B 🇫🇷 France Utility (wind-heavy)
Engie
HQ: 🇫🇷 France Segment: Utility (wind-heavy)

ENGIE is a French integrated multinational utility listed on Euronext Paris, operating across power generation, gas and power networks, and energy supply. The group is targeting 95 GW of renewables and BESS capacity by 2030, and added a record 6.2 GW gross at 100% basis in 2025, predominantly solar and battery storage. Wind sits within a broader Renewables & Flex Power portfolio, with notable offshore stakes including Moray West (882 MW, 50%) and Moray East (952.5 MW, 28.25%) in the UK, and offshore developments under construction at Le Tréport & Noirmoutier (France, 30.25%) and BC Wind (Poland, 50%). In December 2025 ENGIE fully commissioned the 846 MW Serra do Assuruá complex in Brazil, its largest onshore wind project worldwide and one of the largest in Latin America.

Euronext Paris

$80.32B

Utility (wind-heavy)
RWE
RWE.DE $47.73B 🇩🇪 Germany Utility (wind-heavy)
RWE
HQ: 🇩🇪 Germany Segment: Utility (wind-heavy)

RWE is a German electricity generator listed on the Frankfurt Stock Exchange, transformed from a coal- and nuclear-dominated utility into one of Europe's largest renewables-focused power generators. At end-2025 the company held approximately 48.9 GW of total pro-rata generation capacity, including 9,711 MW of onshore wind (USA, Germany, UK, Italy, Poland, Spain, Netherlands), 3,286 MW of offshore wind (UK 1,912 MW, Germany 1,198 MW, plus Belgium, Sweden and Denmark), 7,153 MW of solar, and 1,706 MW of battery storage. RWE secured five UK offshore wind projects at £91.20/MWh in AR7 (20-year CfD, inflation-linked). The 2026–2031 strategic plan calls for €35bn net investment to reach 65 GW by 2031, with around 50% directed at the United States.

Frankfurt Stock Exchange

$47.73B

Utility (wind-heavy)
Prysmian
PRY.MI $42.19B 🇮🇹 Italy Offshore Cables
Prysmian
HQ: 🇮🇹 Italy Segment: Offshore Cables

Prysmian is the global leader in cable systems for energy and digital connections, headquartered in Milan and listed on Borsa Italiana. The Transmission segment, which supplies submarine power cables, land HVDC systems, and offshore wind export cables, generated €3,262M in FY2025 (16.6% of group revenue), with the FY2025 standard-metal EBITDA margin of 18.3% hitting the 2028 ambition three years early. As reported with FY2025 results on 26 February 2026, the Transmission backlog stood at approximately €17bn including the Eastern Green Link 4 contract (over €2.3bn, signed 2 February 2026), with a further ~€2bn of awarded but unbooked orders. The company operates 109 plants and seven cable-laying vessels, and the recent ACSM and Xtera acquisitions further vertically integrate marine installation and surveying capabilities into the Transmission segment.

Borsa Italiana (Milan)

$42.19B

Offshore Cables
SSE
SSE.L $38.94B 🇬🇧 United Kingdom Utility (wind-heavy)
SSE
HQ: 🇬🇧 United Kingdom Segment: Utility (wind-heavy)

SSE plc is a UK-listed integrated electricity infrastructure company, listed on the London Stock Exchange, organised across regulated electricity Networks (SSEN Transmission and Distribution), Renewables and Flexibility. Its 40% stake in the 3.6 GW Dogger Bank wind farm (A+B+C, North Sea) is the company's flagship offshore project: Dogger Bank A was nearing completion of turbine installation at end-2025, with B and C following in 2026. Other operating offshore stakes include Seagreen and Beatrice; Dogger Bank D (1.45 GW, 50% share) secured an agreement for lease from The Crown Estate in August 2025. In November 2025 SSE announced a £33bn five-year investment plan to 2029/30, of which 80% targets regulated UK Networks and 20% Renewables and Flexibility, alongside a £2bn equity placing. Eastern Green Link 2 is on track for 2029 completion.

London Stock Exchange

$38.94B

Utility (wind-heavy)
Orsted
ORSTED.CO $30.12B 🇩🇰 Denmark Project Developer / IPP
Orsted
HQ: 🇩🇰 Denmark Segment: Project Developer / IPP

Ørsted is the world's leading developer and operator of offshore wind farms by installed and under-construction capacity, headquartered in Denmark and listed on Nasdaq Copenhagen. At end-2025 the company had approximately 10.2 GW of gross installed offshore wind capacity and a further 8.1 GW under construction across the UK, Germany, the Netherlands, Denmark, Taiwan and the United States. Renewables represented 99% of group power and heat generation in FY2025, up from 75% in 2018, following the divestment of its upstream oil and gas business and the phase-out of its coal-fired generation. In February 2025 Ørsted announced a strategic reset: refocusing on offshore wind in Europe and APAC, scaling back US ambitions, divesting the European Onshore business, and separating US Onshore, accompanied by a DKK 60bn rights issue completed in October 2025.

Copenhagen Stock Exchange

$30.12B

Project Developer / IPP
Vestas Wind Systems
VWS.CO $25.88B 🇩🇰 Denmark Wind Turbine Manufacturer
Vestas Wind Systems
HQ: 🇩🇰 Denmark Segment: Wind Turbine Manufacturer

Vestas Wind Systems is a Danish-headquartered global wind turbine OEM listed on Nasdaq Copenhagen, founded in 1945 and employing approximately 37,000 people across more than 80 countries. At end-2025 Vestas became the first manufacturer to cross 200 GW of installed wind capacity worldwide, reaching 201 GW; Wood Mackenzie 2024 figures placed its global market share excluding China at 30%. The company organises itself around four business areas in two reportable segments. FY2025 group revenue was approximately €18.8bn, of which Power Solutions €15,052m (80%) on 14,537 MW of deliveries and Service €3,770m (20%) at a 16.6% EBIT margin. Combined order backlog reached a record €71.9bn (Power Solutions €33.2bn / 31,026 MW + Service €38.7bn). The flagship V236-15.0 MW™ offshore turbine produced first power in November 2025 at the He Dreiht project in the German North Sea.

Copenhagen Stock Exchange

$25.88B

Wind Turbine Manufacturer
EDP Renovaveis
EDPR.LS $17.14B 🇵🇹 Portugal Project Developer / IPP
EDP Renovaveis
HQ: 🇵🇹 Portugal Segment: Project Developer / IPP

EDP Renováveis (EDPR) is a Madrid-headquartered, Lisbon-listed pure-play renewable developer, owner and operator and the renewables platform of EDP, S.A. (which holds 71.3%). At end-2025 EDPR operated 20.4 GW of installed renewable capacity across North America (53%), Europe (32%), South America (9%) and APAC (6%), with onshore wind the largest single technology, including a US fleet of approximately 6.2 GW (the company entered the US market in 2007). Offshore wind exposure is held through Ocean Winds, EDPR's 50/50 joint venture with ENGIE, which holds operating stakes in Moray East, Moray West and SeaMade and a multi-stage gross development portfolio reported at approximately 18.6 GW (a development pipeline, not installed capacity). EDPR runs a structural asset-rotation programme targeting approximately EUR 4.5bn of proceeds through 2028.

Euronext Lisbon

$17.14B

Project Developer / IPP
China Three Gorges Renewables
600905.SS $16.30B 🇨🇳 China Project Developer / IPP
China Three Gorges Renewables
HQ: 🇨🇳 China Segment: Project Developer / IPP

China Three Gorges Renewables (CTGR) is the listed renewable energy arm of state-owned China Three Gorges Corporation (the world's largest hydropower producer), which held approximately 52.6% at end-2024. Listed on the Shanghai Stock Exchange (600905.SS), CTGR operated approximately 52.4 GW of total renewable capacity at end-2025, spanning onshore wind, offshore wind and solar PV. CTGR is one of the largest offshore wind operators in China, with approximately 7.5 GW of installed offshore wind capacity at end-2025. CTGR also holds a direct stake of approximately 9.2% in Goldwind Science & Technology (per end-2024 disclosures), providing additional exposure to wind turbine OEM economics.

Shanghai Stock Exchange

$16.30B

Project Developer / IPP
Goldwind Science & Technology
002202.SZ $10.99B 🇨🇳 China Wind Turbine Manufacturer
Goldwind Science & Technology
HQ: 🇨🇳 China Segment: Wind Turbine Manufacturer

Goldwind Science & Technology is the world's largest wind turbine OEM by annual installations, having retained the BloombergNEF #1 ranking for four consecutive years (2022-2025). The company commissioned 19.3 GW of new wind capacity in 2024 and 29.3 GW in 2025, with cumulative installed capacity exceeding 100 GW. Headquartered in Urumqi, Xinjiang, Goldwind specialises in direct-drive permanent magnet turbines and has expanded internationally with a wind equipment manufacturing facility in Brazil that began production in 2024. A-shares list on the Shenzhen Stock Exchange (002202.SZ); H-shares are dual-listed on the Hong Kong Stock Exchange (2208.HK).

Shenzhen Stock Exchange

$10.99B

Wind Turbine Manufacturer
Nordex SE
NDX1.DE $10.79B 🇩🇪 Germany Wind Turbine Manufacturer
Nordex SE
HQ: 🇩🇪 Germany Segment: Wind Turbine Manufacturer

Nordex SE is a Hamburg-headquartered onshore wind turbine manufacturer listed on the Frankfurt Stock Exchange (MDAX and TecDAX), founded 1985 and focused exclusively on the 4–7 MW+ class for global markets outside China and India. Nordex is the #1 onshore wind OEM in Europe for the fourth consecutive year (2025) and the second-largest onshore player worldwide ex-China by order intake. Cumulative installations exceed 64 GW across 40+ countries, with 13,929 turbines (49.4 GW) under long-term service contracts at end-Q1 2026. The modular Delta4000 platform passed 40 GW of cumulative sales in September 2025. FY2025 group revenue was approximately €7.6bn (Projects 89% / Service 11%). The combined order book reached a record €17.0bn at end-Q1 2026 (Projects €10.5bn first time crossing €10bn / Service €6.5bn). Nordex acquired Acciona Windpower in 2016 and explicitly does not participate in offshore wind.

Frankfurt Stock Exchange

$10.79B

Wind Turbine Manufacturer
Acciona Energia
ANE.MC $8.00B 🇪🇸 Spain Project Developer / IPP
Acciona Energia
HQ: 🇪🇸 Spain Segment: Project Developer / IPP

Acciona Energía is the listed clean-energy subsidiary of Spanish infrastructure group Acciona S.A., listed on the Bolsa de Madrid. The company operates 14,604 MW of installed renewable capacity at end-2025 (67.8% wind), spread across Europe, North America, Latin America, and Asia-Pacific. Flagship projects include the 923 MW MacIntyre Wind Farm in Queensland, one of the largest onshore wind farms in the Asia-Pacific region, which progressed through staged commissioning into 2026; Acciona Energía holds 70% with Korea Zinc subsidiary Ark Energy holding 30%, using 162 Nordex Delta4000 5.7 MW turbines. The wider 2 GW MacIntyre Wind Precinct is planned to expand with the proposed 1,000 MW Herries Range Wind Farm, and the company is also developing the 3 GW Bellwether project in Western Australia.

Madrid Stock Exchange

$8.00B

Project Developer / IPP
Suzlon Energy
SUZLON.NS $7.44B 🇮🇳 India Wind Turbine Manufacturer
Suzlon Energy
HQ: 🇮🇳 India Segment: Wind Turbine Manufacturer

Suzlon Energy is India's largest domestic wind turbine manufacturer, headquartered in Pune and listed on the National Stock Exchange of India. The company has installed approximately 21 GW of wind capacity across 17 countries on six continents over a 30-year history, with around 30% market share in cumulative installed wind capacity in India. Suzlon's order book reached a record 6.4 GW at end-Q3 FY26, supported by major orders including a 1,544 MW project from NTPC Green Energy and an 838 MW firm-and-dispatchable renewable energy (FDRE) project for Tata Power Renewable Energy. Following a 2022-2024 debt restructuring the company is now net cash positive. Domestic manufacturing capacity is 4.5 GW per year, primarily for Suzlon's S144 turbine platform.

National Stock Exchange

$7.44B

Wind Turbine Manufacturer
NKT
NKT.CO $7.23B 🇩🇰 Denmark Offshore Cables
NKT
HQ: 🇩🇰 Denmark Segment: Offshore Cables

NKT is a Danish pure-play power cable solutions provider listed on Nasdaq Copenhagen (a member of the OMXC25 index), founded in 1891 and structurally transformed into a focused HVDC and offshore wind cable supplier. FY2025 revenue at standard metal prices was €2,722M with record operational EBITDA of €390M. The high-voltage order backlog stood at €10.2bn at end-2025, of which interconnectors are over 55% and offshore wind around 40%; January 2026 firm orders converted from SSEN booking commitments added approximately €2bn. NKT operates owned high-voltage factories in Karlskrona (Sweden) and Cologne (Germany) and the offshore cable-laying vessel NKT Victoria, with a second vessel (NKT Eleonora) and a Karlskrona expansion, which NKT says will be the world's largest high-voltage offshore cable factory, both targeted for 2027.

Copenhagen Stock Exchange

$7.23B

Offshore Cables
Nexans
NEX.PA $6.58B 🇫🇷 France Offshore Cables
Nexans
HQ: 🇫🇷 France Segment: Offshore Cables

Nexans is a France-headquartered, Paris-listed designer and manufacturer of cable systems with a 140+ year history, operating in 41 countries with 25,700 employees and positioning itself as a global pure-play in sustainable electrification. FY2025 standard-metal sales were €6.1bn (€7.8bn at current metal prices), organised across three continuing electrification segments: PWR-Transmission, PWR-Grid and PWR-Connect. PWR-Transmission, which covers high-voltage subsea and land interconnectors and offshore wind export cables, contributed €1,657m of standard sales (27% of group) at a 12.3% adjusted EBITDA margin, with an adjusted backlog of €7.7bn at 31 December 2025 (including €1.2bn related to the Great Sea Interconnector). Nexans operates a cable-laying vessel fleet of Skagerrak, Aurora and the new Nexans Electra (capable of carrying 13,500 tonnes of cable), which entered service in June 2026, and is pursuing a strategy of divesting non-electrification businesses (Amercable, Lynxeo, Autoelectric).

EPA

$6.58B

Offshore Cables
China Longyuan Power Group
0916.HK $6.08B 🇨🇳 China Project Developer / IPP
China Longyuan Power Group
HQ: 🇨🇳 China Segment: Project Developer / IPP

China Longyuan Power Group is the world's largest wind power producer and a subsidiary of state-owned China Energy Investment Corporation (CHN Energy). Founded in 1993 as a pioneer of China's wind sector, Longyuan reported consolidated installed capacity of approximately 46.0 GW at end-2025, including 32.1 GW of wind and 13.8 GW of solar, following the 2024 divestment of its remaining coal assets to become a pure renewables play. Longyuan also operates the world's first integrated floating wind-and-aquaculture platform ("Guoneng Sharing", June 2024). H-shares trade on HKEX (916.HK); the company is dual-listed with A-shares on the Shenzhen Stock Exchange (001289.SZ).

Hong Kong Stock Exchange

$6.08B

Project Developer / IPP
DEME Group
DEME.BR $4.82B 🇧🇪 Belgium Offshore Wind Installation
DEME Group
HQ: 🇧🇪 Belgium Segment: Offshore Wind Installation

DEME Group is a Belgian offshore engineering and marine contractor listed on Euronext Brussels, with a 150-year history across dredging, offshore energy, and environmental infrastructure. FY2025 group turnover was EUR 4.2 billion (EBITDA EUR 931m, net profit EUR 346m, order book EUR 7.6bn), with the Offshore Energy segment posting a 31% EBITDA margin. The company reports more than 350 offshore energy projects completed since 2000 across foundations, cables, turbine installation, and rock placement. In April 2025 DEME completed the EUR 900m acquisition of Norwegian offshore wind contractor Havfram, integrating two next-generation WTIVs – Norse Wind (delivered Q4 2025) and Norse Energi (delivered January 2026) – into the Offshore Energy fleet. DEME also acquired a 50% stake in BAUER Offshore Technologies in 2025 to expand offshore drilling capabilities.

Euronext Brussels

$4.82B

Offshore Wind Installation
Dajin Heavy Industry
002487.SZ $4.17B 🇨🇳 China Offshore Wind Components
Dajin Heavy Industry
HQ: 🇨🇳 China Segment: Offshore Wind Components

Dajin Heavy Industry is one of China's largest private offshore wind foundation fabricators, dual-listed in Shenzhen (002487.SZ) and Hong Kong (1081.HK) following a June 2026 H-share IPO that raised approximately HK$6.6bn. The company manufactures monopiles, transition pieces, jacket structures, floating foundations and wind turbine towers, and reported a 29.1% share of European monopile supply by sales value in H1 2025 (per its Hong Kong listing documents, up from 18.5% in 2024). Major contracts include RWE's 1 GW Thor offshore wind farm in Denmark, Nordseecluster A and B (Germany), Moray West and Inch Cape (Scotland), and the Eoliennes en Mer Iles d'Yeu et de Noirmoutier project in France. Dajin operates the Penglai Offshore Base and is ramping the Caofeidian Offshore Base for delivery from 2026.

Shenzhen Stock Exchange

$4.17B

Offshore Wind Components
Northland Power
NPI.TO $4.09B 🇨🇦 Canada Project Developer / IPP
Northland Power
HQ: 🇨🇦 Canada Segment: Project Developer / IPP

Northland Power is a Toronto-headquartered global power producer and developer listed on the TSX, founded in 1987 and operating across offshore wind, onshore wind, solar, natural gas, BESS and a regulated electric utility. As at end-2025, Northland owned approximately 3,498 MW gross / 3,014 MW net of operating capacity, with an additional 2.2 GW gross under active construction across Canada, Poland and Taiwan. Operating offshore wind assets are concentrated in the North Sea (Gemini in the Netherlands, Nordsee One and Deutsche Bucht in Germany), while two large offshore wind builds are underway: the 1,140 MW Baltic Power in Poland (49% Northland; 25-year CfD; targeted H2 2026 COD) and the 1,022 MW Hai Long in Taiwan (31% economic interest; targeted 2027 COD). More than 95% of revenue is under long-term contracts (PPAs, CfDs, regulated frameworks), and management has set a strategic target to double gross operating capacity to 7+ GW by 2030.

Toronto Stock Exchange

$4.09B

Project Developer / IPP
Ming Yang Smart Energy
601615.SS $3.66B 🇨🇳 China Wind Turbine Manufacturer
Ming Yang Smart Energy
HQ: 🇨🇳 China Segment: Wind Turbine Manufacturer

Ming Yang Smart Energy is one of China's leading wind turbine OEMs, ranked fourth globally in 2024 by BloombergNEF (12.2 GW commissioned). Founded in 2006 and headquartered in Zhongshan, Guangdong, the company specialises in hybrid-drive offshore turbines and has set repeated industry records: the MySE 18.X-20MW (grid-connected September 2024) is among the largest single-capacity offshore turbines in operation, the OceanX floating platform (16.6 MW) is among the largest floating wind platforms in the world, and a 50 MW twin-rotor floating concept was unveiled in October 2025. A-shares are listed on the Shanghai Stock Exchange (601615.SH) since January 2019; GDRs trade on the London Stock Exchange (MYSE.L) since July 2022. On 26 March 2026, the UK government stated it could not support the use of Ming Yang turbines in UK offshore wind projects following a national-security assessment.

Shanghai Stock Exchange

$3.66B

Wind Turbine Manufacturer
Sany Renewable Energy
688349.SS $3.33B 🇨🇳 China Wind Turbine Manufacturer
Sany Renewable Energy
HQ: 🇨🇳 China Segment: Wind Turbine Manufacturer

Sany Renewable Energy is a pure-play Chinese wind turbine OEM listed on the Shanghai Stock Exchange STAR Market and a subsidiary of Chinese industrial machinery group Sany. Headquartered in Beijing, the company commissioned 9.15 GW of wind capacity in 2024 (against 21.4 GW of new orders) and ranked #6 globally among wind turbine manufacturers per BloombergNEF 2024 rankings. Sany's product range covers 2.5-18 MW turbines including the 15 MW SI-2701150 onshore platform installed in Tongyu, Jilin in October 2024, and new SI-17578 / SI-18580 onshore turbines tailored to European grid, HSE and CE certification standards. Indian growth via Sany Wind Energy India is supported by 1.3+ GW of orders from JSW Group subsidiaries plus a 300 MW deal with Sembcorp.

Shanghai STAR Market

$3.33B

Wind Turbine Manufacturer
Greencoat UK Wind
UKW.L $3.11B 🇬🇧 United Kingdom Wind Infrastructure Fund
Greencoat UK Wind
HQ: 🇬🇧 United Kingdom Segment: Wind Infrastructure Fund

Greencoat UK Wind is a FTSE 250 renewable infrastructure investment trust and the UK's largest listed wind-only fund, holding 49 operating UK wind farm investments with approximately 2 GW of net generating capacity at end-2025. The trust was the first renewable infrastructure fund to list on the LSE main market (March 2013) and is managed by Schroders Greencoat LLP. Generation in 2025 was 5,403 GWh (8.5% below budget on low wind), powering approximately 2.0 million homes; dividends totalled 10.35p per share for 2025 (a 12th consecutive year of increases at or above inflation) with a 2026 target of 10.70p. NAV stood at GBP 2,882m (133.5p per share) at 31 December 2025.

London Stock Exchange

$3.11B

Wind Infrastructure Fund
Boralex
BLX.TO $2.70B 🇨🇦 Canada Project Developer / IPP
Boralex
HQ: 🇨🇦 Canada Segment: Project Developer / IPP

Boralex is a Canadian independent renewable energy producer founded in 1990 and listed on the Toronto Stock Exchange (BLX), with 3,783 MW of installed capacity at end-2025 across wind, hydro, solar and battery storage. The company operates as a leader in onshore wind in Canada (1,565 MW, primarily Quebec) and is France's largest independent producer of onshore wind power (1,378 MW), plus US operations (734 MW solar/wind across New York, Illinois and Pennsylvania) and the new UK Limekiln wind farm (106 MW in Scotland – Boralex's first operational UK site, commissioned April 2025). The 300 MW / 1,200 MWh Hagersville battery storage project in Ontario, Canada's largest operating battery facility, was commercially commissioned in February 2026. Boralex unveiled a new 2030 Strategic Plan during 2025 and has more than 8 GW of wind, solar and storage projects in development.

Toronto Stock Exchange

$2.70B

Project Developer / IPP
Renewables Infrastructure Group
TRIG.L $2.36B 🇬🇧 United Kingdom Wind Infrastructure Fund
Renewables Infrastructure Group
HQ: 🇬🇧 United Kingdom Segment: Wind Infrastructure Fund

The Renewables Infrastructure Group (TRIG) is an FTSE 250 London-listed renewables investment company, Guernsey-domiciled, with a 2.7 GW net generating portfolio of wind, solar and battery storage projects across six European markets (UK, France, Spain, Sweden, Germany, Ireland). TRIG is advised by InfraRed Capital Partners (Investment Manager, part of Sun Life's SLC Management) and by Renewable Energy Systems (Operations Manager, the world's largest independent renewable energy company). The trust grew from a GBP 300m IPO in 2013 to net assets of approximately GBP 2.5bn at end-2025 (Directors' portfolio valuation GBP 2.9bn), with a c.900 MW development pipeline and in-house battery developer Fig Power. The FY2025 dividend target of 7.55p was met, and the 2026 target was maintained at 7.55p.

London Stock Exchange

$2.36B

Wind Infrastructure Fund
ReNew Energy Global
RNW $2.24B 🇮🇳 India Project Developer / IPP
ReNew Energy Global
HQ: 🇮🇳 India Segment: Project Developer / IPP

ReNew Energy Global is one of India's largest independent power producers, listed on Nasdaq via a 2021 SPAC merger. Operating exclusively in India, ReNew runs a 19.2 GW committed portfolio (including 1.5 GW/5.5 GWh of battery storage) of which approximately 11.4 GW is commissioned per Q3 FY26, split across roughly 5.5 GW of wind, 5.8 GW of solar, plus hydro and BESS. Founded in 2011 by Sumant Sinha as a utility-scale wind developer, the company has since broadened into firm power (wind+solar+storage), C&I distributed energy, and 6.5 GW of vertically integrated solar module manufacturing. Wind contributed 45% of FY25 revenue. Major holders include ADIA, CPP Investments, JERA, founder entities, and Goldman Sachs.

NASDAQ

$2.24B

Project Developer / IPP
Cadeler
CDLR $2.19B 🇩🇰 Denmark Offshore Wind Installation
Cadeler
HQ: 🇩🇰 Denmark Segment: Offshore Wind Installation

Cadeler is a Danish offshore wind installation specialist dual-listed on the NYSE (CDLR) and Oslo Stock Exchange, owning and operating the world's largest fleet of jack-up wind turbine installation vessels (WTIVs). The company doubled its operational fleet from five to ten vessels during 2025 (with Wind Mover, the tenth vessel, delivered ahead of schedule on 28 November 2025) and is on track to a 12-vessel fleet by mid-2027. FY2025 revenue rose 149% YoY to EUR 620m (EBITDA EUR 425m, net profit EUR 280m); at Q1 2026 the contract backlog stood at approximately EUR 2.7bn, of which 82% related to projects with a positive final investment decision. Cadeler executes full transport-and-installation scopes (e.g. RWE's 2.85 GW Hornsea 3) and is expanding into offshore O&M via its new Nexra service platform.

NYSE / Oslo Stock Exchange

$2.19B

Offshore Wind Installation
China Suntien Green Energy
0956.HK $1.81B 🇨🇳 China Project Developer / IPP
China Suntien Green Energy
HQ: 🇨🇳 China Segment: Project Developer / IPP

China Suntien Green Energy is a dual-business renewable energy and natural gas distribution company dual-listed in Hong Kong (0956.HK) and Shanghai (600956.SS), headquartered in Shijiazhuang, Hebei. The company operates 8,245.97 MW of wind capacity under management at end-2025 (consolidated wind capacity 7,777.97 MW), with around 75% concentrated in Hebei Province, plus solar and natural gas distribution operations. In 2025 Suntien divested all of its photovoltaic projects in Xinjiang, Heilongjiang and Liaoning provinces (plus selected Hebei projects) to refocus the renewable portfolio. The natural gas segment transmitted 5,255 million cubic metres of gas in 2025, primarily across Hebei and Northern China.

Hong Kong Stock Exchange

$1.81B

Project Developer / IPP
Titan Wind Energy
002531.SZ $1.61B 🇨🇳 China Wind Components & Materials
Titan Wind Energy
HQ: 🇨🇳 China Segment: Wind Components & Materials

Titan Wind Energy (Suzhou) is a Chinese manufacturer of wind turbine towers and structural steel components, established in 2005 and listed on the Shenzhen Stock Exchange in 2010. Titan operates production bases in China (including Taicang and Baotou) plus European manufacturing in Denmark and Germany through Titan Wind Energy Europe A/S, serving both onshore and offshore projects. The company is an approved supplier to international turbine OEMs including Vestas and GE Vernova, also produces wind turbine blades and moulds, and operates wind farm projects under its IPP business.

Shenzhen Stock Exchange

$1.61B

Wind Components & Materials
Shanghai Electric Wind Power
688660.SS $1.51B 🇨🇳 China Wind Turbine Manufacturer
Shanghai Electric Wind Power
HQ: 🇨🇳 China Segment: Wind Turbine Manufacturer

Shanghai Electric Wind Power Group is a Chinese pure-play wind turbine OEM listed on the Shanghai Stock Exchange STAR Market (688660.SS) since May 2021 and a subsidiary of Shanghai Electric Group (SEHK: 2727 / SSE: 601727). Established in 2006, the company describes itself as the largest offshore wind turbine manufacturer in China and operates a Denmark R&D Center (since 2018). Its product line spans 2.5 MW turbines up to announced 18-20 MW class platforms, anchored by the Poseidon offshore platform (third-generation EW14.0-270, 14 MW, launched July 2024) and the EW18~20-260 wind-storage-load-grid unit. The company supplied floating wind turbine technology for the Wanning deep-sea floating wind and aquaculture project in Hainan (developed by China Longyuan, with the first phase completed in 2025) and is increasing exports across Southeast Asia.

Shanghai STAR Market

$1.51B

Wind Turbine Manufacturer
Inox Wind
INOXWIND.NS $1.38B 🇮🇳 India Wind Turbine Manufacturer
Inox Wind
HQ: 🇮🇳 India Segment: Wind Turbine Manufacturer

Inox Wind is an Indian wind turbine manufacturer and full-scope wind energy solutions provider, part of the INOXGFL Group and listed on the National Stock Exchange of India. The company offers WTG components including nacelles, hubs, rotor blades and tubular towers, plus turnkey services covering wind resource assessment, site acquisition, EPC and long-term O&M. The order book stood at approximately 3.1 GW at end-FY26, with FY26 consolidated total income of approximately Rs 45.7 billion (up around 24% YoY). A July 2024 capital infusion of Rs 9 billion from parent Inox Wind Energy Limited (subsequently merged with the company) made Inox Wind net cash positive. Inox Wind operates closely with affiliate Inox Green Energy Services for O&M.

National Stock Exchange

$1.38B

Wind Turbine Manufacturer
Windey Energy Technology
300772.SZ $1.30B 🇨🇳 China Wind Turbine Manufacturer
Windey Energy Technology
HQ: 🇨🇳 China Segment: Wind Turbine Manufacturer

Windey Energy Technology Group is a Chinese wind turbine manufacturer ranked among the world's top OEMs by BloombergNEF, commissioning 12.5 GW of new wind capacity in 2024 (third globally per BNEF). Listed on the Shenzhen Stock Exchange's ChiNext board, Windey designs and manufactures onshore and offshore wind turbines and energy storage systems. In Saudi Arabia, Windey has been selected as turbine supplier on multiple wind projects, including the Yanbu Wind Power Project, the third of its Saudi projects whose sponsors have reached financial close, and its new-generation WD200-7700 platform (tailored for 60Hz international markets) entered commercial operation in the kingdom in 2025. The company is also expanding into other emerging markets.

Shenzhen Stock Exchange

$1.30B

Wind Turbine Manufacturer
CSSC Haizhuang Wind Power
301155.SZ $1.25B 🇨🇳 China Wind Turbine Manufacturer
CSSC Haizhuang Wind Power
HQ: 🇨🇳 China Segment: Wind Turbine Manufacturer

CSSC Haizhuang Wind Power is a Chinese wind turbine manufacturer listed on the Shenzhen ChiNext board, operating as a subsidiary of central-government-owned China State Shipbuilding Corporation (CSSC). Established in 2004, the company develops large onshore and offshore turbines and has unveiled some of the most powerful platforms announced in the Chinese market, including the H260-18MW offshore platform (launched January 2023, with a 260 m rotor) and the H305-25MW platform announced in October 2024, which at announcement remained a next-generation development rather than a commercially deployed product. The wider product range spans platforms developed for typhoon-exposed offshore sites and high-wind onshore regions such as the Gobi Desert.

Shenzhen Stock Exchange

$1.25B

Wind Turbine Manufacturer
CS Wind Corporation
112610.KS $1.23B 🇰🇷 South Korea Wind Components & Materials
CS Wind Corporation
HQ: 🇰🇷 South Korea Segment: Wind Components & Materials

CS Wind Corporation is a South Korean manufacturer of wind turbine towers and offshore foundations, founded in 2006 and listed on the Korea Exchange (KRX). Headquartered in Seoul, CS Wind is one of the world's largest tower suppliers, with manufacturing facilities across South Korea, Vietnam, China, Canada, Turkey, Taiwan, Malaysia, Australia, the United States and Portugal, plus the Danish offshore-foundation business CS WIND Offshore (the former Bladt Industries) with UK operations. The company produces both onshore and offshore turbine towers, plus transition pieces and foundations for offshore wind farms, supplying global OEMs and project developers. FY2025 revenue was approximately KRW 2.93 trillion, down about 5% from KRW 3.07 trillion in FY2024.

Korea Exchange

$1.23B

Wind Components & Materials
China Datang Renewable Power
1798.HK $1.17B 🇨🇳 China Project Developer / IPP
China Datang Renewable Power
HQ: 🇨🇳 China Segment: Project Developer / IPP

China Datang Renewable Power is one of China's leading wind power operators and a subsidiary of state-owned China Datang Corporation, one of China's five major power groups. Founded in 2004 and listed on the Hong Kong Stock Exchange in December 2010, the company had consolidated installed capacity of 18,846 MW at end-2024, comprising 14,482 MW of wind power (77% of total) and 4,365 MW of solar power. Headquartered in Beijing, Datang Renewable develops, builds and operates onshore and offshore wind farms primarily across China, with parent China Datang Group holding a controlling majority stake.

Hong Kong Stock Exchange

$1.17B

Project Developer / IPP
Greencoat Renewables
GRP.IR $939M 🇮🇪 Ireland Wind Infrastructure Fund
Greencoat Renewables
HQ: 🇮🇪 Ireland Segment: Wind Infrastructure Fund

Greencoat Renewables is an Irish renewable energy infrastructure company listed on Euronext Dublin and the LSE's Specialist Fund Segment, with a secondary JSE AltX listing added in June 2025. The company operates 36 renewable energy assets totalling approximately 1.4 GW of installed capacity across Ireland, France, Germany, Sweden and Spain at end-2025, comprising wind, solar and battery storage, and has paid a progressive dividend every year since its 2017 IPO. Investment manager is Schroders Greencoat LLP. NAV per share at 31 December 2025 was 99.0c (FY2025 net cash generation EUR 114.6m, 1.5x net dividend cover); the company is also targeting renewable power supply to data centres through its Green Digital Infrastructure Platform.

Euronext Dublin

$939M

Wind Infrastructure Fund
PNE AG
PNE3.DE $929M 🇩🇪 Germany Project Developer / IPP
PNE AG
HQ: 🇩🇪 Germany Segment: Project Developer / IPP

PNE AG is a German wind project developer and operator listed on the Frankfurt Stock Exchange (SDAX), founded in 1995 and headquartered in Cuxhaven. PNE develops onshore and offshore wind, solar PV, battery storage and green hydrogen / power-to-X projects across Germany and international markets. Morgan Stanley reported a 50.06% shareholding in PNE (50.07% of voting rights including instruments) as of mid-2026, with its Photon Management vehicle holding approximately 48.03% of voting rights, a position dating back to the 2019 takeover offer. Recent activity includes the January 2026 sale of six wind farm projects to Spanish renewables platform Qualitas Energy and the 2024 sale of a 43 MW Scottish wind farm to Boralex. The PNE Group brand spans project development (PNE Erneuerbare Energien, formerly WKN GmbH) and a growing own-portfolio of wind/solar/storage assets retained for IPP cashflow.

Frankfurt SDAX

$929M

Project Developer / IPP
Inox Green Energy Services
INOXGREEN.NS $798M 🇮🇳 India Wind Equipment & Services
Inox Green Energy Services
HQ: 🇮🇳 India Segment: Wind Equipment & Services

Inox Green Energy Services is India's only listed pure-play renewable O&M service provider, listed on the National Stock Exchange of India and part of the INOXGFL Group. The company provides long-term operations and maintenance services for wind turbine generators (WTGs) and common evacuation infrastructure under 5-20 year contracts, with a portfolio of approximately 13.3 GW of assets under management following the acquisition of Wind World India's 4.5 GW O&M business, completed through an NCLT-approved resolution process in early 2026. Recent expansion into solar O&M was marked by a 625 MWp letter of award from KEC. A scheme of arrangement to demerge the Power Evacuation Business into Inox Renewable Solutions was approved in 2026.

National Stock Exchange

$798M

Wind Equipment & Services
Energiekontor
EKT.DE $557M 🇩🇪 Germany Project Developer / IPP
Energiekontor
HQ: 🇩🇪 Germany Segment: Project Developer / IPP

Energiekontor AG is a German wind and solar project developer and IPP listed on the Frankfurt Stock Exchange General Standard, founded in 1990 in Bremerhaven and now headquartered in Bremen. The Group's own park portfolio reached approximately 448 MW of installed wind and solar capacity at end-2025, with a target of more than 680 MW once projects under construction are commissioned. Energiekontor's project pipeline (excluding US rights) reached approximately 11.6 GW at end-2025, with solar now around a third of the pipeline and 21 projects totalling around 640 MW under construction or in preparation. Active markets include Germany, the UK, Portugal and France; the company discontinued its US wind business (333 MW of project rights) in 2025. FY2025 EBT was EUR 40.5m and the proposed dividend doubled to EUR 1.00 per share.

Frankfurt General Standard

$557M

Project Developer / IPP
Sif Holding
SIFG.AS $140M 🇳🇱 Netherlands Offshore Wind Components
Sif Holding
HQ: 🇳🇱 Netherlands Segment: Offshore Wind Components

Sif Holding is a Dutch pure-play offshore wind monopile foundation manufacturer headquartered in Roermond and listed on Euronext Amsterdam. Founded in 1948 to serve the oil & gas market, Sif pivoted to offshore wind in 2002 and reports having produced more than 2,600 monopiles supporting approximately 22.7 GW of European offshore wind capacity, with a company-stated European market share of 35-40%. The new Maasvlakte 2 facility in Rotterdam (opened May 2025) targets 200 monopiles per year and produces the largest XXL monopiles up to 11m diameter for 15-18 MW turbines, complementing the legacy Roermond plant for transition pieces, jackets and pin piles. Customers include Equinor, SSE, Shell, Eneco, Polenergia, RWE; FY2025 revenue was EUR 597m. In March 2026 the Dutch government designated Sif as strategic under the EU Net-Zero Industrial Act framework.

Euronext Amsterdam

$140M

Offshore Wind Components
Eolus Vind
EOLU-B.ST $94M 🇸🇪 Sweden Project Developer / IPP
Eolus Vind
HQ: 🇸🇪 Sweden Segment: Project Developer / IPP

Eolus (formerly Eolus Vind) is one of the leading Nordic renewable energy developers, listed on Nasdaq Stockholm (EOLU-B.ST) and headquartered in Hässleholm, Sweden. Founded in 1990, Eolus pioneered commercial wind energy development in Sweden and has constructed more than 570 wind turbines domestically. Today the project portfolio totals more than 25 GW of wind, solar and energy storage projects across the Nordics, Baltics, Poland and the United States, with active asset management contracts covering more than 800 MW. Recent execution includes completing construction management of the 260 MW Stor-Skälsjön onshore wind project in March 2025 on behalf of its owners (Eolus had earlier sold down its interests in the project, which it co-developed with Hydro Rein), and three SE3-region Swedish wind parks reaching commercial operation in Q3 2025. The company renamed from Eolus Vind AB to Eolus Aktiebolag in June 2025.

Nasdaq Stockholm

$94M

Project Developer / IPP
Disclaimer: Green Stocks Research publishes independent research for informational and educational purposes only. Nothing on this page is investment advice, a recommendation, or an offer to buy or sell any security — always do your own due diligence and consider consulting a licensed financial adviser before investing. Market-capitalisation figures are refreshed on a regular cadence from publicly available exchange data and may lag real-time prices; see our methodology for how this list is compiled and maintained. Green Stocks Research has no financial relationship with any company listed. Have a suggestion — an addition, removal, or correction? Email us at feedback@greenstocksresearch.com.

Wind Stocks — Investor FAQ

Wind stocks are shares of publicly traded companies with meaningful exposure to wind power. The universe spans turbine manufacturers, the developers and utilities that build and own wind farms, yield-focused wind infrastructure funds, and the supply chain behind them: cable makers, tower and foundation fabricators, blade suppliers, and installation-vessel owners. Some are pure-plays such as Vestas or Ørsted, while others are diversified groups such as GE Vernova or Iberdrola where wind sits alongside other businesses. This list covers listed wind companies across all of those segments.
Yes, in practice the terms are interchangeable. Wind energy stocks, wind power stocks, and wind stocks all refer to listed companies whose revenue or asset base is tied to wind generation or the wind supply chain. The more useful distinction is between business models: turbine OEMs, project developers and owners, component and cable suppliers, and diversified utilities with large wind fleets respond to different drivers and carry different risks. This page groups all of them in one sortable list so the segments can be compared directly.
Onshore wind is one of the lowest-cost sources of new electricity in many markets (IRENA put its 2024 global weighted-average LCOE at $34/MWh, the lowest of any newly commissioned renewable technology), although its output is variable rather than dispatchable. Offshore wind is a core component of national net-zero plans across Europe and parts of Asia. Demand is reinforced by competitive auctions such as the UK's CfD Allocation Rounds, where AR7 awarded a record 8.4 GW of offshore wind in January 2026, by the EU's REPowerEU package, and by China, which remains the world's largest wind market. Corporate PPAs and load growth from electrification and data centres are adding incremental demand on top of policy-led volumes, although procurement conditions vary materially by market.
Turbine OEMs (Vestas, Siemens Gamesa, GE Vernova, Nordex, Goldwind, Ming Yang) manufacture and service wind turbines. Their economics are driven by order intake, turbine pricing, supply-chain costs, and warranty performance, with long-term service contracts often providing recurring, higher-margin revenue. Developers and IPPs (Ørsted, EDPR, Iberdrola, NextEra, RWE) develop, own and operate wind farms, earning returns from PPAs, CfDs, and merchant power. The two ends of the chain do not always move together: turbine pricing power can rise even as developer returns come under pressure.
Offshore wind faced a sharp cost reset from 2022 onwards driven by interest rates, steel and cable inflation, vessel availability, and grid-connection delays. Several large projects were cancelled, rebid or delayed, most visibly in the US Northeast. The UK's AR5 auction in 2023 attracted zero offshore bids; the government raised maximum strike prices for AR6, and AR7 went on to award a record 8.4 GW of offshore wind in January 2026. Onshore wind has been less exposed because of shorter project cycles and lower per-MW capex, though it has its own challenges including permitting, grid connections, and turbine quality issues at certain OEMs.
Key risks include turbine quality and warranty costs (a recurring source of pressure across multiple OEMs), interest-rate sensitivity for developers and infrastructure funds, and policy risk. In the US, 2025 legislation curtailed the Section 45Y and 48E clean-electricity tax credits: wind and solar projects that began construction after July 4, 2026 must be placed in service by the end of 2027 to qualify, and federal permitting of offshore wind has become less predictable. Supply-chain bottlenecks (vessels, monopiles, HVDC cables) and execution risk on offshore projects, where delays can cascade through CfD and PPA terms, add further pressure. Chinese OEMs face low penetration and rising regulatory scrutiny in Western markets, while Western OEMs face Chinese price competition in emerging markets.
Wind is highly rate-sensitive on the project side. Developers and IPPs rely on long-dated debt financing, so higher rates raise the cost of capital and compress project returns, particularly for offshore projects where long lead times and high capex amplify duration risk. Wind infrastructure funds (Greencoat UK Wind, TRIG, Greencoat Renewables) trade with reference to their dividend yields and can de-rate when long-end government bond yields rise. Turbine OEMs are less directly rate-exposed but suffer indirectly when higher financing costs delay or reduce customer orders.
Buying an individual wind stock gives concentrated exposure to a single company's order book, execution, and balance sheet. A wind ETF holds a basket of companies across the sector, diversifying single-company risk in exchange for a management fee. The dedicated universe is thin: FAN, the First Trust Global Wind Energy ETF, is the only remaining US-listed pure wind ETF following the liquidation of WNDY in 2025, so many investors use broad clean-energy ETFs that hold turbine OEMs and wind developers alongside solar and grid names. Our Wind Energy ETFs list covers the fund options in detail.

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Key Terms
Full Glossary →

Wind turbines installed on land. Onshore wind accounts for the large majority of installed wind capacity worldwide and benefits from shorter project timelines, lower capex per MW, and broader geographic deployment than offshore. Turbine sizes vary by market and vintage: newly installed US turbines averaged about 3.4 MW in 2023, while new onshore platforms in Europe and China are rated at 5–7 MW or more with rotor diameters well above 150m.
Wind turbines installed at sea, either fixed-bottom (shallower waters, using monopile or jacket foundations) or floating (deeper water, typically beyond roughly 60m, using semi-submersible, spar, or tension-leg platforms). Modern offshore projects generally achieve higher and more consistent capacity factors than onshore, often around 40–50% depending on site, but require significantly more capex, port infrastructure, and specialised installation vessels. Power reaches shore via subsea export cables, with HVDC increasingly used for larger and more distant projects.
The ratio of actual electricity generated to the maximum theoretical output if a plant ran at full capacity continuously. Geothermal plants achieve capacity factors of roughly 75–90%, among the highest of any generation source, because they run around the clock regardless of weather. Wind and solar are lower and more site-dependent: modern onshore wind projects are typically designed for 30–45%, offshore wind around 40–50%, and solar 15–25%, though fleet-wide averages in some markets sit below new-project assumptions. Capacity factor drives project economics and is a function of resource quality, technology, curtailment, and downtime.
A revenue-stabilisation contract for low-carbon generation, used most prominently in Great Britain and in varying forms across Europe. Under the British scheme the generator contracts with the government-owned Low Carbon Contracts Company: when the wholesale reference price is below the index-linked strike price the generator receives a top-up, and when it is above, the generator pays back the difference. Contracts are awarded through competitive Allocation Rounds and underpin the bankability of large offshore wind projects. Design, duration, and payment mechanics differ across countries.
The Production Tax Credit (PTC, Section 45) and Investment Tax Credit (ITC, Section 48) are the legacy US federal tax credits for renewable energy: the PTC pays a per-MWh credit over the first 10 years of operation, while the ITC is a one-time percentage of capex. Facilities placed in service after 2024 generally use their technology-neutral successors, the Section 45Y Clean Electricity Production Credit and Section 48E Clean Electricity Investment Credit. Under 2025 legislation, wind and solar projects that began construction after July 4, 2026 must be placed in service by the end of 2027 to qualify, and foreign-entity restrictions apply. Credits are commonly monetised via tax-equity partnerships or transferability.
A long-term contract (commonly 10–25 years) between a power project owner and an offtaker (utility, corporate, or government) setting the commercial terms for electricity delivered. Pricing structures range from flat fixed prices to indexed or escalating prices, floors and collars, and many renewable PPAs are pay-as-produced rather than fixed-volume. A bankable PPA with a creditworthy offtaker provides the contracted revenue stream that supports non-recourse project financing across geothermal, solar, wind, and other generation projects. Firm, dispatchable resources such as geothermal can command a pricing premium over intermittent generation because output is available around the clock. Variants include physical PPAs (electricity is physically delivered) and virtual PPAs (a financial contract with no physical delivery); tolling agreements, under which the offtaker pays a capacity fee and controls dispatch, are a related but distinct structure more common for storage and thermal assets.
The sale by a developer of a partial stake (typically 25–50%) in an operational or under-construction wind farm to a financial investor (pension fund, infrastructure fund, sovereign wealth). Farm-downs recycle capital, validate project value, and reduce balance-sheet risk. They are a core lever for capital-light growth among offshore wind developers like Ørsted and EDPR.
High-Voltage Direct Current transmission. The dominant technology for connecting large or distant offshore wind farms to onshore grids, replacing earlier HVAC connections at distances above ~80–100 km. HVDC export cables and converter stations are supplied by Prysmian, NKT, Nexans, Hitachi Energy, Siemens Energy, and GE Vernova among others — the supply chain is a structural bottleneck for offshore wind build-out.
The dominant fixed-bottom foundation type for offshore wind in shallow-to-intermediate water depths. A single large-diameter steel tube (typically 8–12m diameter, weighing 2,000–3,000+ tonnes) is driven or vibrated into the seabed. Major suppliers include Sif Holding, Steelwind Nordenham, EEW Group, and Haizea Wind. Foundation diameters have grown rapidly with turbine size — XXL monopiles are now standard for new projects.
A specialised offshore installation vessel that lowers legs to the seabed and elevates the hull above the waves to provide a stable platform for installing offshore wind turbines and foundations. Modern next-generation jack-ups, such as Cadeler's newbuild P- and A-class vessels, are sized for 15+ MW turbines. The fleet is structurally tight relative to the global offshore wind pipeline.
A wind turbine architecture that omits the gearbox by using a permanent-magnet generator coupled directly to the rotor at low speed. Direct-drive eliminates a key historical failure mode but requires more rare-earth magnets and is heavier per MW. Goldwind has built its market position on direct-drive; Siemens Gamesa (offshore) and Enercon are also long-standing direct-drive proponents.
For wind turbine OEMs, order intake is the value or capacity of new firm orders signed in a reporting period, while the order book (backlog) is contracted work not yet delivered or recognised as revenue. Equipment backlog converts to revenue as turbines are delivered over the following quarters and years; service backlog covers contracted future O&M revenue and can stretch a decade or more (Vestas reported an average service-contract duration of 11 years at end-2025). Pricing per MW within the equipment order book is a key driver of forward gross margin and is closely tracked by analysts following Vestas, Nordex, Siemens Energy, GE Vernova, and the Chinese OEMs.
The average cost per unit of electricity (typically expressed in $/MWh) generated over a power plant's lifetime, accounting for capital costs, operating costs, fuel, financing and capacity utilisation under stated assumptions for project life and discount rate. LCOE is the standard first-pass tool for comparing generation technologies, though it does not capture dispatchability, curtailment or grid-integration costs. Lazard's June 2025 US analysis put unsubsidised utility-scale solar at $38–78/MWh and onshore wind at $37–86/MWh, against $48–109/MWh for new-build combined-cycle gas, keeping utility solar and onshore wind among the lowest-cost sources of new bulk generation in many markets.

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