Kalkine Media -
Governments worldwide are rapidly putting their plans into action to encourage the expansion of sustainable energy. This includes financial aid, tax breaks, and legislative initiatives supporting renewable energy sources. As a result, many investors see clean energy stocks as promising investment opportunities with strong growth potential.Highlights
- People invest in clean energy stocks for a variety of reasons, including environmental consciousness.
- Northland Power (TSX:NPI) is a producer of clean and green power infrastructure assets.
- Ballard designs and sells proton exchange membrane (PEM) fuel cell products.
Overall, people invest in clean energy stocks for a variety of reasons, including environmental consciousness, government support, economic potential, diversification, and innovation.
Before making an investment choice, it is crucial for investors to carefully weigh the risks and possibilities related to clean energy companies.That said, let's look at some TSX-listed clean energy stocks:
Northland Power (TSX: NPI) Northland Power is a power producer focusing on clean and green energy. Notably, the company invests in almost all forms of renewable energy.
NPI announced it would pay a monthly dividend of C$ 0.1 per share, and as of writing, its dividend yield was 3.6 per cent.
Northland's price-to-earnings (P/E) ratio was 9.7, and its market cap stood at C$ 8.35 billion on March 21, 2023.
In the fourth quarter of 2022, the sales of Northland Power were C$ 641.1 million, up from C$ 640.09 million in Q4 2021. Meanwhile, the net income rose significantly to C$ 323.9 million from just C$ 129.5 million.
Ballard Power Systems (TSX:BLDP) (TSX: BLPD) Proton exchange membrane (PEM) fuel cell devices are designed and sold by Ballard Power for a variety of uses like stationary power production and in vehicles.
A Research and Markets report highlighted that the market for hydrogen fuel cells was worth US$ 14.72 billion in 2021 and it can reach US$ 80.48 billion in 2030, growing at a CAGR of 21.2 per cent.
In Q4 2022, the financial results of Ballard Power were not so positive. The total revenue was US$ 20.5 million, down by 44 per cent YoY.
Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.