By Steve Dinnen
If you want to jump into the renewable energy sector, you can always buy your way in with a stock. They’re easy in, easy out.
NextEra Energy Partners LP (ticker: NEP; current price: $59.06) is a $12 billion company in Florida that operates 6.5 gigawatts of wind power and 1.4 gigawatts of solar power. It pays a healthy 5.2% dividend. (NextEra Partners is controlled by utility giant NextEra Energy Inc., whose Florida Power & Light unit was a pioneer in developing wind farms in Northwest Iowa.)
Another player in this sector is Atlantica Sustainable Infrastructure PLC (AY; $25.70), a British firm with both wind and solar farms spread across the United States, Canada, Algeria and Spain. Additionally, Northland Power Inc. (NPIFF; $22.23) of Toronto specializes in generating wind power both on and off shore in Canada and Europe, and ReNew Energy (RNW; $5.385) operates in India.
A number of other exchange-traded funds, or ETFs, also support renewable energy. Among them are the iShares Global Clean Energy ETF (ICLN; $18.875), Invesco Global Clean Energy ETF (PBD; $18.44), and Global X Renewable Energy Producers (RNRG; $12.17).
Most of these investments pay dividends, but the ETFs also have ongoing expenses. All offer liquidity that is unavailable with a direct investment. And of course, all are at risk.
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