From Mitsubishi Heavy Industries to E.ON, the world's largest companies are investing in wind power, the best-performing energy in the past year. Led by Vestas Wind Systems and Iberdrola of Spain, utilities and governments in the United States, China and Europe will spend as much as $150 billion on wind projects in the next five years, according to CLSA Research. Lawmakers are providing financial incentives because windmills are non-polluting and cost less than solar projects. "Wind has the biggest potential to meet renewable energy targets over the next decade, compared with solar and biofuels," said Philippe de Weck, who started the Pictet Clean Energy fund last month for Pictet in Geneva.

As part of international efforts to reduce greenhouse gas emissions, the government is considering whether to introduce higher mandatory targets for renewable energy sources, such as wind and solar power, for the country’s utilities in fiscal 2011-14. The obligatory use of new sources of energy is in line with the renewable portfolio standard (RPS) program outlined in the Special Measures Law Concerning the Use of New Energy by Electric Utilities–known as the RPS Law–which came into effect in fiscal 2003. The law obliges utilities to rely on five kinds of renewable energy–wind, low-head microhydraulic, biomass, solar and geothermal power–for more than 1.35 percent of their electricity by fiscal 2010, or 12.2 billion kilowatt-hours of what they sell nationwide. But, given the technical challenges to achieving the target quickly, power companies have been given a transitional allowance to gradually meet the target by fiscal 2010, beginning from 0.39 percent in fiscal 2003. The mandatory level for fiscal 2006 is 0.52 percent.

Sept. 1 (Bloomberg) -- Eurus Energy Holdings Corp., Japan's biggest wind power supplier, may scrap a plan to build turbines in the north of the country after the regional utility said it will cut purchases of wind-generated power because supply is unreliable.

Canadian manufacturer of solar cells and modules Photowatt (PHWT) filed to go public last week; its prospectus contains an overview of the renewable energy industry, and trends in solar energy. The excerpt below is from the company's F-1 filing: