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Highlights
- The Boris Johnson Government is planning to invest heavily in onshore and offshore wind farms to meet the country’s domestic energy needs.
- Exceeding coal and nuclear energy in 2016 and 2018, respectively, wind energy is currently the largest source of renewable electricity in the UK.
As the Russian invasion of Ukraine has rattled the global energy markets, the UK government is planning to invest massively into the country’s energy independence. Wind farms in the UK, which are the largest source of renewable electricity, are all set to receive huge investments for their further expansion, not just to tackle the climate change issues but also primarily for national security reasons.
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Fuel prices are rising across the globe due to the Russia-Ukraine war, and thus the dependence of the UK on overseas supplies is rising. The aim of the Boris Johnson government is to meet the domestic needs of renewable and nuclear energy, and it is thus planning to invest heavily in onshore and offshore wind farms. In 2020, 24.2% of the electricity was from wind farms, offshore wind 13%, and onshore wind 11.2%. Exceeding coal and nuclear energy in 2016 and 2018, respectively, wind energy is currently the largest source of renewable electricity in the UK.
Rising energy bills are a major concern for Britons and investing in wind energy appears to be a plausible solution. In 2022 itself, the UK energy bills are expected to rise around 14 times more than the wages, which may severely hit UK households, especially those belonging to the lower-income group. As wind energy is not as expensive as gas, coal, nuclear energy, etc., investing more in wind energy may help the UK to meet its energy security needs.
Here are 3 UK wind energy stocks that may be added to your portfolio after thorough research.
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Greencoat UK Wind PLC (LON: UKW)
The market cap of the leading FTSE250-listed renewable infrastructure fund which operates wind farms across the UK, Greencoat UK Wind PLC, stands at £3,340.79 million as of 11 March 2022. Greencoat UK Wind Plc’s shares closed at GBX 156.80, up by 0.13%, on 11 March 2022. The company has given a return of 25.64% to its shareholders in the last one year as of 11 March 2022, while its year-to-date return stands at 11.52%.
Greencoat Renewables PLC (LON: GRP)
The market cap of the FTSE AIM 100 Index-listed renewable energy investment firm, Greencoat Renewables PLC, stands at £879.43 million as of 11 March 2022. Greencoat Renewables Plc’s shares closed at EUR 1.18, up by 0.21%, on 11 March 2022. The company has given a return of 2.61% to its shareholders in the last one year as of 11 March 2022, while its year-to-date return stands at 5.36%.
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The Renewables Infrastructure Group (LON: TRIG)
The market cap of the FTSE250-listed investment trust which invests in renewable energy sources, Renewables Infrastructure Group, stands at £3,128.80 million as of 11 March 2022. Renewables Infrastructure Group’s shares closed at GBX £138.00, down by 1.00%, on 11 March 2022. The company has given a return of 12.20% to its shareholders in the last one year as of 11 March 2022, while its year-to-date return stands at 2.68%.
