Energy is a fundamental pillar in our survival, but it’s getting more expensive to tap into this resource. Gas prices continue to rise, and current geopolitical disputes are only making it worse. Some companies offer an alternative: renewable energy. This energy source taps into water, air, and the sun instead of fossil fuels. As the price of gas continues to rise, investors may benefit from migrating to the renewable energy sector. Let’s take a look at these promising clean energy stocks.
Brookfield Renewable (BEP)
Brookfield Renewable Partners (NYSE:BEP) is a renewable energy company that harnesses the power of hydroelectric, wind, and solar sources. The company aspires to create a greener, more environmentally-friendly future while providing attractive returns to its investors.
Interestingly, the soaring gas prices in recent times might actually prove beneficial for BEP. As people search for cleaner alternatives to traditional energy sources, the demand for renewable energy is on the rise. Brookfield Renewable Partners stands to reward shareholders if that trend continues.
BEP’s recent results paint a promising picture. They achieved net earnings of $424 million in the first quarter, driven by a robust financial performance across their operations. Moreover, their asset management business saw impressive growth, expanding by 15% compared to the previous year.
What’s more, their focus on insurance solutions is also bearing fruit, allowing them to reinvest their funds. Brookfield Renewable Partners contributes to the growth of clean energy while generating substantial profits.
Looking ahead, they have ambitious plans to expand. They have revealed their proposal to acquire shares of American Equity Investment Life Holding Company (NYSE: AEL), demonstrating their readiness to keep growing and leading the charge toward a more sustainable future!
Clearway Energy (CWEN)
Meet Clearway Energy (NYSE:CWEN), a company with a strong commitment to our planet. Their mission is to produce clean, renewable energy from wind and solar sources. By generating electricity in an environmentally-friendly way, they aim to power homes and businesses in a sustainable manner.
Recently, they showcased their dedication to sustainability by extending a contract to sell energy through 2045. This forward-looking decision guarantees them long-term revenue, ensuring they can continue to grow and provide green solutions to society.
While they faced challenges during a recent quarter, with lower than expected wind energy production due to weather conditions, Clearway Energy remains undeterred and optimistic about the future. They have reaffirmed their financial projections and expressed their intention to increase dividends as a reward for their shareholders.
Clearway Energy’s ambition to make a difference in the energy world is evident. Their goal is to raise dividends by 5% to 8% annually through 2026, showcasing their long-term commitment and unwavering confidence in overcoming current challenges.
First Solar (FSLR)
First Solar (NASDAQ:FSLR), an American solar panel manufacturer, is on a mission to harness sunlight and convert it into electricity. They are taking their commitment to solar energy to the next level with a $1.1 billion investment in a new U.S. factory.
This integrated facility will oversee the entire production process, from inception to the final product. It will boost the company’s production capacity by 3.5 GW.
Considering the escalating gas prices, investing in First Solar stock might be a wise move. While gas prices can be volatile, solar energy is on a rapid upward trajectory. Companies like First Solar stand to benefit from the surging demand for solar panels.
Their latest financial results look promising as well. With net sales of $811 million and net earnings per share of $1.59, each share holds a positive value. The icing on the cake is their healthy net cash balance of $1.5 billion. That cash position indicates that First Solar has sufficient funds after clearing debts and expenses.
In addition, they have booked 21.1 GW worth of projects, to which they have added an impressive 8.9 GW in the last quarter alone. These figures reflect strong demand for its solar products. Looking ahead, the company expects to receive orders totaling 77.8 GW, which paints a positive picture for their future. With all these encouraging figures, First Solar seems to be on a steady and prosperous path toward a greener and more sustainable future.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
