While risk is not something most investors embrace, it is proving to be a catalyst for new wind energy developments.

In an effort to capitalize on the growing demand for renewable energy in the U.S., Ireland's Mainstream Renewable Power is developing new wind sites - from greenfield through construction - with the intention of selling the projects to the utilities down the road. This is a winning prospect for the utilities, as it takes a big chunk of the development risk out of the equation. It essentially becomes a much more attractive investment.

Mainstream recently bought three wind farms in Illinois that will now be ramped up to a capacity of 787 megawatts. It will come at a cost of $1.7 billion, and take about 4 years to complete.

This deal is Mainstream's second North American deal in just three months. The first was a a $742.4 million joint venture with Alberta Wind Energy Corporation to build about 400 megawatts of wind energy in Alberta.

Jeff