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Buzzing Trends. Today we will be talking about 3 ASX-listed green stocks that can be looked at for
next year. As the global focus shifts towards fighting challenges posed by climate change,
the renewable space has emerged as one of the most exciting spaces to invest in.
As a result, businesses operating in renewable energy production and transmission
are gaining popularity. Investments in the green sector have also increased all across the world
as renewable energy is being considered as one of the effective tools that can help to stave off the
worst effects of rising temperatures. Governments are also supporting the cause by offering
subsidies and tax rebates. Here are three ASX-listed green stocks that can be looked
at by investors in 2022. These stocks have given as high as 250% in year-to-date returns.
First up. Mpower Group is a Sydney-based specialist in the renewable energy,
battery storage and microgrid business. It caters to blue-chip corporate and government customers
with off-grid and on-grid power solutions. The company recently signed binding purchase
agreements for two project sites, a crucial milestone advancing its plan to establish
a portfolio of 20 renewable energy sites under the Build Own Operate model. In 2021,
the company reported a revenue of AU$11.1 million, which was a 1% increase
over the previous corresponding period. The total comprehensive loss for the year was AU$2.07
million, compared to a total comprehensive loss of AU$3.98 million in 2020. In the past one year,
the stock gave a return of over 3% and is currently trading at AU$0.051 on the ASX.
Next. New Energy Solar invests in a diversified portfolio of solar assets worldwide. In the US,
the company operates 14 solar power plants. The solar plants of the Company help in reducing
carbon emissions of over 1 megatonnes on an annual basis. The power generated by NEW is sold
to wholesale companies, which then transmit it to the customers. The company paid a dividend of
AU$0.03 per share in August 2022 and has an annual dividend yield of 6.22%. In the past one year,
the stock gave a negative return of nearly 10% and is currently trading at AU$ 0.82 on the ASX.
Next. ReNu Energy is into the provision of commercial and technical solutions
in the clean energy sector. Shares of the company have given one-year return of around
250%. The company’s shares recently jumped after it reported that it had entered into a
Share Purchase Agreement to acquire 100% of Countrywide Renewable Hydrogen. Earlier,
the company had completed its first tranche of investment in Enosi Australia,
announced on 10 September 2021. In November 2021, ReNu Energy announced the acquisition of 100% of
Countrywide Renewable Hydrogen, an Australian company that originates green hydrogen projects
to develop them in collaboration with project partners and governments. Additionally,
In September 2021, ReNu Energy announced an investment in Enosi Australia, an Australian
company that has developed Powertracer: a first-of-its-kind grid scale renewable energy
trading and tracing solution. The company is currently trading at AU$0.14 on the ASX.
Well, that’s all for now. We will be back soon with our Buzzing Trends show to share
the latest market insights with you. Till then, Stay tuned with
Kalkine TV for more stock, business and economy related hot trends.