This paper presents the modeling of saturated dual stator induction generator (DSIG) for analysis of its transient and dynamic behavior for stand-alone operation. In the analytical model, the effect of common mutual leakage reactance between the two three-phase winding sets and the cross saturation have been considered. For this purpose, a detailed description of a procedure to introduce magnetic saturation in found models is presented. Paper also discusses the possibility of DSIG for supplying two individual loads by presenting the results of analytical and experimental study of transient behavior under various operating conditions. Use of such models leads to more accurate predictions in industrial drives, especially wind driven power generation systems. This is verified by experimental lab tests.