“Wind power is the cheapest form of renewable energy out there,” Jim Cramer reminded fans of his “Mad Money” TV show Wednesday. Cramer introduced his Mad Money Wind Index (Wind-ex), which is a portfolio of 11 stocks that have exposure to the wind market. He explained he’s using this index to gauge what he thinks will be a major trend coming for wind stocks. Cramer started with naming his wind stocks that have exposure to windmills. He said the best plays for this segment are Trinity Industries (TRN) and Otter Tail (OTTR). Next on the list was the company that make windmill blades, Owens Corning (OC). Cramer then highlighted the companies that focus on the nacelle, the structure that houses a windmill’s turbine – Woodward Governor (WGOV), Thomas & Betts (TNB) and Kaydon (KDN). Next on the list was MasTec (MTZ) which is a play on wind power infrastructure. Finally, Cramer added four new names to the index. He mentioned Ameron (AMN), a maker of water pipeline systems but also a play on wind-tower manufacturing. The last three trade over the counter in the U.S. – Vesta (VWDRY), a play on the global wind market and maker of wind turbines and towers; Broadwind Energy (BWEN), a wind-farm construction and infrastructure play that makes wind towers; and Clipper Wind Power (CRPWF), a turbine manufacturer in the United Kingdom. Cramer pointed out that the Wind Power 2008 conference will kick off in Houston during the first week in June. He thinks the conference will be a catalyst for the new Index.
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