With a growing awareness about climate change, people are more conscious of what impact their actions could have on the earth. Human activities are changing the natural greenhouse effects. Burning of fossil fuels over the last century, like coal and oil, has increased the concentration of atmospheric carbon dioxide. These effects of these activities have led to the aggressive adoption of clean technologies…
The cleantech industry, which includes wind energy, solar energy, hydropower, and geothermal among others, is at the center of this revolution. With president-elect Joe Biden in the White House, the growth of the cleantech stocks is expected to accelerate further. Taking on the “existential threat” of climate change is one of the “Day One” priorities for Biden. Moreover, he has also announced his plans to make the United States rejoin the Paris Agreement on climate change.
While many companies are entering this promising industry, Brookfield Renewable Partners L.P. (BEP – Get Rating), First Solar, Inc. (FSLR – Get Rating), and Niu Technologies (NIU – Get Rating) are expected to perform pretty well based on their constant innovations and cutting-edge technologies.
Founded in 1999, BEP operates one of the world’s largest publicly-traded renewable power platforms. The company’s portfolio consists of roughly 19,400 MW of capacity and 5,318 generating facilities in North America, South America, Europe and Asia. Being the global leader in hydroelectric power, it makes up roughly 64% of its portfolio. The company generates electricity through hydroelectric, wind, solar, cogeneration, and biomass sources.
BEP remained focused on continuing to deliver on its target of 12 to 15% long-term returns to equity holders. For the third quarter that ended September 2020, BEP’s actual generation increased 8.3% year-over-year to 12,007 GWh. Funds from Operations (FFO) increased 18% year-over-year to $157 million. While revenues from Solar increased 114.3% year-over-year to $120 million, revenues from Wind increased 17.4% year-over-year to $101 million. BEP’s EPS is expected to grow at a rate of 53.3% per annum in the next five years.
Last month, JP Morgan Chase & Co. (JPM) and BEP announced a five-year energy agreement for supplying clean, renewable electricity to more than 500 of JPMorgan Chase’s real estate operations in New York State. This is in line with JPM’s commitment to annually source renewable energy for 100% of its global power needs starting in 2020. On September 24th, Plug Power, Inc. (PLUG) announced an agreement to source 100% renewable energy supplies from BEP to fully energize PLUG’s planned green hydrogen production plant, one of the first industrial-scale facilities in North America. On a year-to-date basis, BEP has rallied 50.8% to close yesterday’s session at $56.24. Over the past six months, BEP has soared 44%.
How does BEP stack up for the POWR Ratings?
A for Trade Grade
B for Buy & Hold Grade
B for Peer Grade
B for Industry Rank
B for Overall POWR Rating
The stock is also ranked #3 out of 18 stocks in MLPs – Other industry.
Based in Tempe, Arizona, FSLR is a leading global provider of photovoltaic (PV) solar energy solutions. The company has developed, financed, engineered, constructed and operated many of the world’s largest grid-connected PV power plants. Operating for nearly two-decades now, FSLR operates through two segments, components and systems.
FSLR’s net sales for the third quarter that ended September 2020 increased 69.6% year-over-year to…
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