Two Wind Power ETFs Filed with SEC

Two new Exchange Traded Funds (ETFs) will focus on the booming wind energy business according to a report by Investor’s Business Daily.

PowerShares and First Trust Advisors both filed ETFs with the SEC that will hold shares in companies providing products and services within the wind energy industry, including turbine makers and developers of wind farms.

The filings did not include a list of holdings.

PowerShares Global Wind Energy Portfolio requires a minimum market-cap of $200 million.

Two-thirds of the companies in the First Trust ISE Global Wind Energy Index Fund will be pure-plays, according to the filing, and the fund will include stocks of all sizes, including microcaps.

U.S. wind power capacity increased by 46% in 2007, with $9 billion invested in U.S. wind plants in 2007 alone, making the U.S. the fastest-growing wind power market in the world for the third straight year, according to new figures released by the U.S. Department of Energy.

In 2007 wind made up 30% of all new electricity-generating capacity in the U.S.