AUS
NZ
UK
CA
USA
IND
Highlights
- SSE declared a final dividend of 56.6 pence per ordinary share for the year ended 31 March 2021.
- For the year ended 30 April 2021, ITM Power’s total sales revenue surged by 30 per cent year on year to £4.3 million.
Renewable energy harnessed from the wind, sun, or water is slowly becoming a preferred power source. A growing focus on reducing carbon emissions to tackle climate change and global warming is further driving investments in the sector. There has been good momentum in this ethical investment space, not only this the attractive returns are the sign that the sector is becoming one of the most sought after.
(Data source: EODHD/Others)
Here we will review two of the top renewable energy stocks to buy in the UK – SSE & ITM.
SSE Plc (LON: SSE)
FTSE 100 listed SSE is an international energy company. Its subsidiary SSE Renewables is engaged in developing renewable energy across the UK and Ireland. In September 2021, SSE Renewables inked an agreement with Pacifico Energy, a Japan-based renewable energy developer, for a joint venture to develop offshore wind projects in Japan. It also announced combining the Berwick Bank with Marr Bank offshore wind projects in Scotland with a capacity of 4.1 GW.
SSE’s shares are trading at GBX 1,571.50, down by 0.79% at 10:13 AM BST on Monday, 4 October 2021.
SSE declared a final dividend of 56.6 pence per ordinary share for the year ended 31 March 2021. The company is hopeful of its capex (capital expenditure) and investment surging to nearly £2 billion in 2021/22.
In the last one year, the shares of SSE returned 22.18% to shareholders, and the market cap of the company is £16,877.46 million, as of 4 October 2021.
ITM Power Plc (LON: ITM)
ITM Power is a leading electrolyser manufacturer. It is engaged in the manufacturing of integrated hydrogen energy solutions to improve the utilisation of renewable energy. ITM Power’s total sales revenue was £4.3 million for the year ended 30 April 2021, representing an increase of 30% year-on-year compared to £3.3 million in the previous year. Its adjusted EBITDA loss was £21.4 million, an increase of 18% compared to the loss of £18.1 million in 2020.
ITM’s shares are trading at GBX 397.00, down by 2.89% at 10:25 AM BST on Monday, 4 October 2021.
In the last one year, the shares of ITM Power returned 37.01% to shareholders, and the market cap of the company is £2,251.09 million, as of 4 October 2021.
