Canada’s energy transformation is taking shape, and there are two companies at the forefront of that transformation. These clean energy stocks come with investors’ promises of long-term growth and even dividends.
Here’s a look at two of the clean energy stocks leading this transformation toward a more sustainable and cleaner future.
Brookfield Renewable Corporation (BEPC)
Most investors should be familiar with the name behind it Brookfield Renewable Corporation (TSX: BEPC).
As part of the Brookfield family, Brookfield Renewable is a global powerhouse focused on renewable energy sources. In concrete terms, the company has a portfolio of hydropower, wind, solar, energy storage and sustainable energy solutions.
In total, Brookfield Renewables offers an installed capacity of almost 14,000 MW, spread across the world on four continents. In other words, Brookfield Renewable is one of the largest publicly traded renewable energy players in the world.
In Canada, that portfolio includes hydro, wind and solar energy. Brookfield also offers innovative storage technologies, such as pumped storage and battery projects, that are complementary to the nature of wind and solar facilities.
Renewable players like Brookfield generate reliable revenue streams backed by regulated long-term contracts. This allows the company to invest in growth and pay a dividend.
Additionally, Brookfield regularly executes transformative deals that elevate the company on a global scale. An example of this is Brookfield’s announcement to supply up to 3,000 MW of hydropower to the US, in accordance with Googling.
More recently, Brookfield made news this week about another large-scale sustainable project. The company, together with Cameco and the U.S. government have announced a strategic partnership to accelerate the deployment of nuclear energy.
Potential investors should also note that Brookfield offers investors a tasty quarterly dividend. At the time of writing, that dividend is 3.5%.
This makes Brookfield not only one of the clean energy stocks transforming Canada’s energy market, but also a global player.
Northland Power (NPI)
Based in Toronto Northland Power (TSX:NPI) is a great example of one of the clean energy stocks changing the energy landscape in Canada. Northland specializes in large-scale diversified sustainable energy projects.
Like Brookfield, Northland is a global partner in the sustainable energy market. Northland has a massive 3.5 GW of operational capacity in facilities across North and South America, Asia and Europe.
Impressively, Northland also currently has 2.2GW of capacity under construction.
The company’s asset base includes wind (onshore and offshore), solar, natural gas and battery storage facilities.
In Canada, Northland Power is known for its innovative projects, such as the Oneida battery energy storage facility, the largest in the country. Battery facilities are important components of any renewable infrastructure and help store the energy generated by renewable energy sources to balance intermittent supply.
In addition to its impressive portfolio, Northland is an equally attractive dividend payer.
Northland offers investors a monthly dividend with a covered payout ratio of approximately one-third of cash flow. This fact alone makes the company a reliable top choice for any investor looking to diversify into renewable energy sources.
Buy the clean energy stocks that are reshaping Canada’s energy future
The aforementioned clean energy stocks all have their unique offerings. Brookfield Renewable Corporation’s global scale and diversified technologies and Northland Power’s groundbreaking projects and spectacular deals position them both as leaders in Canada’s clean energy future.
These companies not only contribute significantly to reducing Canada’s carbon footprint, but also provide investors with exposure to one of the fastest growing segments in global energy markets, anchored by robust demand and technological innovation.
One or both of the above should be core investments in any well-diversified portfolio.
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