David Evans and Associates Inc., an engineering and design firm headquartered in Portland, has created Momentum Renewable Energy Inc. to focus on the burgeoning renewable energy industry. The subsidiary plans to provide technical, financial and regulatory expertise to those wanting to develop renewable energy projects.

The company said Momentum Renewable Energy will initially focus on developing and co-owning, with partners in the agricultural industry, a portfolio of 10 to 50 megawatts worth of community wind projects. In time, the company plans to offer technical expertise and capital to entrepreneurs in the industry to help bring renewable energy products to market.

“We believe there is substantial opportunity to expand renewable generation into the mainstream electric market,” said Peter Solomon, vice president of Momentum Renewable Energy.

Research firm Clean Edge Inc. of San Francisco reports investments in wind power globally reached $11.8 billion in 2005, an increase of 47 percent over 2004. It predicts investments will reach nearly $49 billion in 2015. Overall, the combined market value of wind, biofuels, solar photovolatics and fuel cell and distributed hydrogen technologies is expected to grow from $40 billion in 2005 to $167 billion within 10 years.