Five ASX listed stocks to look at amid renewable and clean energy boom

Highlights

  • Renewable and clean energy companies effectively produce energy to limit greenhouse gas emissions.
  • Governments across the globe are supporting renewable and clean energy by providing subsidies and tax rebates.
  • Australia has completed 32 renewable energy projects in 2020 and contributed 27.7% of the total energy generation.

Renewable and clean energy (RCE) stocks are among the most trending stocks in the stock market nowadays. RCE companies effectively produce energy to limit greenhouse gas emissions. A profound and long-lasting shift to sustainability in the leading economies of the world including Europe, China, and the US has boosted the adaptability of RCE sources globally.

From transportation to electricity generation, renewables are empowering everything. The world has understood the importance of RCE and joined hands together to combat greenhouse emissions. Most of the governments across the globe are supporting RCE by providing subsidies and tax rebates. The popularity of electric vehicles in the last one year is the best example that the world wants green energy.

Related Article: Which are the most exciting ASX-listed ethical ETFs?

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Australia also holds a significant position in driving this clean energy drive. As per the Clean Energy Council's findings, the country has completed 32 renewable energy projects in 2020 and contributed for 27.7% of the total energy generation recording an increase of 3.7% over 2019 figures. Tasmania remains the country’s renewable energy leader and the government is targeting over 200% renewable energy by 2040 in the state.

Related Article: A lens over seven ASX-listed power-packed clean energy ETFs

In the backdrop of this, let's have a look at five ASX-listed renewables and clean energy stocks that are poised to grow amid the skying demand for RCE sources.

Source: ASX as of 27 August 2021

Infratil Limited

New Zealand-based, Infratil Limited (ASX:IFT) is an investment holding company. The company owns businesses in the growth sector including data & connectivity, social infrastructure, airport, and renewable energy sector. The company intends to provide good returns to its shareholders by investing in sectors that are growing.

The company has recently sold 65.15% stakes in Tilt Renewables Limited for gross proceeds of AU$1,984 million.

Related Article: Sneak Peek at Infratil’s (NZX:IFT) portfolio approach and investment plans

Mercury NZ Limited

Mercury NZ Limited (ASX:MCY) intends to become a leading energy brand in New Zealand. The company generates electricity from renewable sources including geothermal, wind, and hydro. MCY sells electricity to its customers through its retail brands which are – Mercury and GLOBUG.

MCY’s New Zealand wing has acquired Tilt Renewables’ New Zealand operations during the start of August. Under the deal, the company has now taken ownership of the New Zealand assets to become one of New Zealand’s largest wind power companies.

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Environmental Group Limited

Headquartered in Victoria, Australia, Environmental Group Limited (ASX:EGL) is committed to environmental protection through its four business units – air quality improvement, waste to energy production, enhancing water quality, and reducing carbon footprints. The company has strong management that is driving the organic growth of the company through strategic acquisitions.

Five ASX listed renewable and clean energy stocks for sustainable investing

EGL Water, the company’s division that reduces water pollution recently commenced PFAS separation and concentration trails along with its partner – Victoria University. The division is also undertaking a commercial trial with Reclaim Waste at their EPA licensed facility.

Spark Infrastructure Group Limited

Headquartered in Sydney, Australia, Spark Infrastructure Group Limited (ASX:SKI) is a utility company. The company invests in utility infrastructure and operates an electricity network across Australia. SKI serves more than five million homes and businesses. The utility company is also involved in transitioning the country's electricity systems. Spark has also invested in the Bomen Solar Farm located in NSW.

Related Article: Scientists update forecasts on the need of a better climate modeling

The company's total revenue during the June ending half-yearly was AU$121 million along with a profit of AU$93.9 million before loan note interest.

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Mpower Group Limited

Mpower Group Limited (ASX:MPR) is a Sydney, Australia-based company that offers on-grid and off-grid power solutions. The company has a wide business portfolio, including microgrid business, battery storage, and renewables.

The company has completed a 5MW solar farm project in South Australia while two 5MW projects reached full commercial operation during the last financial year. MPR also acquired more than ten new renewable sites in South Australia, NSW, and Victoria in the last year.

 

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