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A method for establishing wind speed correlation between neighboring measuring stations is presented in this paper. The aim of this study is to develop a model, in which given the wind speed at a particular site to simulate the wind speed at another, nearby site, in order to estimate the wind power of an area. This method takes into account the evolution of the sample cross correlation function (SCCF) of wind speed in time domain and uses an artificial neural network to perform the wind speed simulation. Four separate pairs of wind data measuring stations at two different regions were examined. Tests showed that the higher the SCCF value between two sites, the better simulation achieved. Also, in a pair of stations under investigation the reference station must be the one that contains more information in its wind speed signal, in order to obtain the optimum simulation performance.