There is an old Irish blessing that begins "May the wind be always at your back." Maybe the wisdom and luck of the Irish elders was foretelling of another story—namely that the wind sector will emerge as a credible energy source globally. This leads us to Massachusetts-based American Superconductor Corp (NASDAQ:AMSC), a name that is valued 15 times lower than it was in 2010 when wind was slated for more upside. The economic crisis facing the U.S., the delay in adopting wind, and an epic battle regarding alleged stolen technology by China's Sinovel havw plagued AMSC. However, recent industry developments to move ahead without the PTC by companies like Siemens (NASDAQOTH:SIEGY) and Enel Green Power (NASDAQOTH:ENLAY) only solidify that wind power should once again be on investors' radars.

There is certainly risk in going long AMSC, but if it can show that Sinovel stole AMSC's intellectual property, shares of AMSC could be worth the risk considering it serves both the utility and industrial markets and provides the brains and technology designs for more efficient wind turbine power generation. Additionally, AMSC, once considered a General Electric (NYSE:GE) takeover target, is seeking $1.2 billion for its claim against Sinovel, and that is nearly the full 15 times higher valuation the company was trading at in 2010. Even a fraction of that settlement could see shares of AMSC vault higher, but I again want to point out this is a risky idea. 

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John Licata has no position in any stocks mentioned. You can follow John on Twitter @bluephoenixinc. The Motley Fool owns shares of General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.