PowerShares Global Wind Energy Portfolio (PWND) was launched today.

The fund is based on an index of global companies that are primarily manufacturers, developers, distributors, installers and users of energy derived from wind sources.

Leading index weightings by country include Spain, Germany and Denmark.

The fund expands the options open to investors in alternative energy ETFs.  First Trust launched the First Trust ISE Global Wind Energy ETF (FAN) in June.