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Summary
- US-based industry body US Solar Energy Industries Association has said that the US is expected to quadruple its solar capacity by 2030.
- In UK, clean energy has overtaken fossil fuels in its energy mix in 2020, as per Drax insights.
The green transition has increasingly gained focus across the world. The US-based solar industry body, Solar Energy Industries Association (SEIA) has said that the US is expected to quadruple its solar capacity to 324 GW by 2030 on the back of an extension of industry subsidy and rising demand for clean energy power.
The increased solar capacity is expected to produce electricity that will power up to 40 per cent of homes in the US or up to 60 million households.
On the other hand, the UK has set a new record as it revamped its energy mix with clean energy overtaking fossil fuels as the primary source of energy in 2020, accounting for almost 42 per cent of the mix, according to Drax insights. The UK has also made decarbonisation a priority focus ahead of hosting the COP26 UN Summit in November 2021.
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In this article, we will take a look at five FTSE-listed renewable energy stocks which has given over 100 per cent in a year.
- Powerhouse Energy Group PLC
FTSE AIM All Share-listed technology company Powerhouse Energy Group (LON:PHE) issued 500,000 ordinary shares of 0.5 pence per share each on 16 March, thus bringing the company’s total number issued ordinary shares to 3,915,914,135 once the new shares start trading around 17 March.
The company’s market cap stood at £244.615 million, while its 1-year return was 547.41 per cent on 16 March. Powerhouse Energy’s (LON:PHE), which focuses on hydrogen production, shares were trading at GBX 6.25, down by 0.79 per cent on 16 March at 9:45 AM GMT+1.
- ITM Power PLC
FTSE AIM UK 50 Index-listed ITM Power PLC (LON:ITM) is an energy storage and fuel cells company. The company recently announced plans to increase hiring and recruit 80 engineers due to increased demand for its products. ITM said the new hires will be based in its new Gigafactory in Sheffield.
The company’s market cap stood at £2.244 billion, while its 1-year return was 311.63 per cent as on 16 March. ITM Power’s (LON:ITM) shares were trading at GBX 470.00, down by 1.05 per cent on 16 March at 9:58 AM GMT+1, while the broader index FTSE AIM UK 50 stood at 6,530.88, up by 0.85 per cent.
Also Read: 5 Cheap Renewable Energy Stocks To Keep An Eye On In 2021
- Ceres Power Holdings PLC
FTSE AIM UK 50 Index-listed company Ceres Power Holdings PLC (LON:CWR) said its revenue and other operating income is expected to be in the range of £32-£33 million, ahead of the target for the 18 months to 31 December 2020, in a trading update on 17 February.
The company’s increased targets are due its focus on scaling its production capabilities as it aims for a mass-market launch in 2024.
The company’s market cap stood at £1.925 billion, while its 1-year return was 232.92 per cent on Tuesday. Ceres Power’s (LON:CWR) shares were trading at GBX 1,125.80, up by 0.34 per cent as of 16 March at 10:12AM GMT+1.
- AFC Energy PLC
FTSE AIM All Share-listed hydrogen power company AFC Energy PLC (LON:AFC) announced a partnership with construction and international consultancy firm the Mace Group on 16 March. The deal aims to support on-hire construction sites in hydrogen power with initial leasing of AFC’s hydrogen power technology from early 2022.
The company’s market cap stood at £356.288 million, while its 1-year return was 175.89 per cent on 16 March. AFC’s (LON:AFC) shares were trading at GBX 52.60, up by 7.46 per cent on 16 March at 9:25 AM GMT+1, while the FTSE AIM All Share index stood at 1,204.94, up by 0.47 per cent.
Also Read: AFC Energy makes notable business advancements in 2020
- EQTEC PLC
FTSE AIM All Share listed gasification technology firm EQTEC PLC (LON:EQT) announced a collaboration deal with automaker Toyota’s UK manufacturing arm (TYO: 7203) on 11 March to oversee waste-to-energy solutions to Toyota’s Deeside plant for the Deeside Refuse Derived Fuel (RDF) project for three years.
The company’s market cap stood at £146.49 million, while its 1-year return was 909.76 per cent on 16 March. EQTEC’s (LON:EQT) shares were trading at GBX 2.03, up by 3.85 per cent on 16 March at 10:28 AM GMT+1.
