June 11, 2021 6 min read
This story originally appeared on StockMarket
Do You Have These Top Green Energy Stocks On Your Summer Watchlist?
It would not surprise me to see that green energy stocks are amongst the most active stocks today. Understandably, with the effects of climate change being more severe than ever, the green energy industry would be increasingly crucial. As the world makes the shift towards clean and sustainable sources of energy, green energy stocks could flourish. Because of this, investors could be eyeing the sector now. For one thing, investment banking firm Citi (NYSE: C) seems to believe so. Yesterday, Citi’s head of investment strategy for Asia-Pacific, Ken Pang highlighted the sector as being “very productive” now.
According to Pang, major governments around the world are focusing on sustainable development. By extension, this would mean that there would be ample funds flowing into the industry. Not only that but, the analyst also believes that the green energy trend “is likely to be with us for a good part of the next decade”. This could make green energy stocks potential long-term plays for investors now. For example, we could look at leading names in the solar energy industry now. Companies such as Enphase (NASDAQ: ENPH) and Daqo New Energy (NYSE: DQ) have seen their share prices skyrocket over the past year. In that time ENPH stock is up by over 200% and DQ stock is looking at gains of over 490%.
Meanwhile, First Solar (NASDAQ: FSLR) is looking to invest $680 million towards expanding its U.S. solar manufacturing capacities. With no shortage of exciting developments in the industry today, you might be keen on green energy stocks yourself. If you are, here are four to know in the stock market now.
Green Energy Stocks To Watch This Month
General Electric Company
To begin with, we have the General Electric Company (GE). As the name suggests, the multinational conglomerate boasts numerous ventures in the energy industry. Today, we will be focusing on its GE Renewable Energy division. By GE’s estimates, its green energy arm is a $15.7 billion business. Moreover, it boasts one of the broadest portfolios in the renewable energy industry. This includes but is not limited to, a combination of onshore and offshore wind turbines, utility-scale solar, and grid solutions. To date, GE Renewable Energy has installed over 400 gigawatts of clean renewable energy, equipping over 90% of utilities globally with its grid solutions.
Impressive green portfolio aside, GE does not appear to be slowing down anytime soon. As of yesterday, the company is currently working with LafargeHolcim, a global leader in building solutions, on its latest wind energy project. Together, both companies will be exploring more sustainable and cost-saving applications for old decommissioned wind turbines. Before that, GE also landed one of the largest onshore wind contracts in the Southeast Asia region last month.
Moreover, it is working with some of the biggest renewable energy names in the Philippine-Vietnam region. In this collaboration, GE will be supplying, installing, and commissioning wind turbines for the 88-megawatt wind farm in Vietnam. With the company’s green energy division kicking into high gear now, GE stock could be a viable green energy play. Would you say the same?
Ford Motor Company
Ford is a multinational automaker that has been investing heavily into the green energy space with its new line of electric vehicles. The company has recently announced its Ford+ plans for growth and value creation based on its electric vehicles and connected services. Diving in, the company says it expects 40% of Ford vehicle sales to be all-electric by 2030 and raised its planned electrification spending to over $30 billion by 2025. This would include the development of its proprietary IonBoost batteries. F stock is up by over 70% year-to-date.
Earlier this week, the company announced a new type of pickup that is stunningly fuel-efficient and packed with clever technology and features. The all-new 2022 Ford Maverick is a standard five-passenger, four-door pickup, with a full-hybrid powertrain. It is built for durability and is capable of carrying a 1,500 pounds payload.
“The Maverick product proposition is like nothing else out there. It’s a great-looking truck featuring four doors with room for five adults, a standard full-hybrid engine with city fuel economy that beats a Honda Civic, plenty of towing and hauling for weekend trips or do-it-yourself projects, and it starts under $20,000,” said Todd Eckert, Ford truck group marketing manager. “We believe it will be compelling to a lot of people who never before considered a truck.” For these reasons, will you watch F stock?
Brookfield Renewable Partners LP
Brookfield Renewable Partners (BEP) is a green energy company that owns and operates renewable power assets. In essence, it operates one of the world’s largest publicly traded renewable power platforms. Its portfolio consists of approximately 21,000 MW of capacity and nearly 6,000 generating facilities in North America. Last month, it reported strong first-quarter financials.
Diving in, it generated funds from operations of $242 million, or $0.38 per unit, a 21% increase on a normalized per unit basis over the same period in the prior year. The company also made progress in approximately 6,000 megawatts through construction and advanced stage permitting. It also added nearly 4,500 megawatts to its development pipeline.
During the quarter, it also signed 29 agreements for approximately 2,300 GWh of renewable generation with corporate off-takers across all major industries. Lastly, BEP also says that it invested or agreed to invest $1.6 billion of equity across a range of transactions, including onshore wind. Given the excitement surrounding the company, will you watch BEP stock?
Plug Power Inc.
Plug Power is a company that engages in the development of hydrogen fuel cell systems. Its systems are used to replace conventional batteries in equipment and vehicles powered by electricity. In essence, the company dubs itself as the architect of modern hydrogen and fuel cell technology, and for good reason. It has taken the technology from concept to commercialization and has revolutionized the material handling industry with its full-service GenKey solution.
On Thursday, the company announced plans to build a green hydrogen production plant in Camden County, Georgia to serve customers across the southeastern U.S. The plant will produce 15 tons per day of liquid green hydrogen, produced using 100% renewable energy and intended to fuel transportation applications, including material handling and fuel cell electric vehicle fleets.
Plug Power is investing $84 million in the facility, which is expected to create at least 24 jobs in the local community starting in 2022. All things considered, is PLUG stock worth watching?