An electric generator using ferrofluid bearings is provided. The generator includes stators having plural magnets separated by a yoke of magnetizable materials. A rotor configured to rotate in a horizontal plane is positioned between the stators. The rotor includes plural coils in which current is induced during rotation from passing through the magnetic fields generated by the stators. A first set of ferrofluid bearings is positioned between the first stator and the rotor and a second set is positioned between the rotor and the second stator. A third set of ferrofluid bearings is positioned adjacent to the periphery of the rotor and configured to center the rotor. In one embodiment, the electric generator is wind-driven and supported in a wind collection housing.