As the demand for green energy continues to grow, I think there are good growth opportunities for companies expanding their businesses in this area. In addition, short-term challenges associated with the COVID-19 pandemic, including reduced electricity demand, are expected to soon be resolved with vaccine distribution and economic resumption.
With that in mind, we’ll focus on the top three green energy stocks that have the potential to generate strong returns over the next decade. In addition, these companies can continue to increase their revenue through consistent dividend payments.
Electricity producer Northland power (TSX: NPI) We have a solid track record of bringing impressive benefits to our shareholders. Over the last five years, Northland Power has achieved an average annual return on equity of 24%, which is encouraging.
Northland Power’s strong returns are underpinned by an expanded asset base and operational capacity. From 2014 to 2020, Northland Power’s assets grew at an annual growth rate of 18%. Meanwhile, its operational capacity grew at an average annual rate of 14% over the same period.
Northland Power’s adjusted EBITDA and net cash flow per share are growing at a healthy pace, thanks to regulations and contract assets. Meanwhile, momentum may continue for the next few years.
The company’s diverse assets, geographic expansion, opportunistic acquisitions, and its ability to provide consistent returns make it one of the top green energy stocks to be part of its portfolio.Thanks to its strong revenue base, Northland Power paid uninterrupted dividend Since 1998, we have provided yields of over 2.5%.
Brookfield Renewable Partner
With an installed capacity of 19,400 MW (megawatts) and $ 52 billion worth of renewable energy assets Brookfield Renewable Partner (TSX: BEP.UN)(NYSE: BEP) that is Top stock In the green energy space.
The company’s high-quality, diverse assets and large, resilient business are well suited to consistently deliver impressive returns. Its production is supported by long-term electricity purchase contracts, including the inflation index.
Thanks to predictable and growing cash flow, Brookfield Renewable Partners has raised its dividend at a CAGR of 6% over the last 20 years. Meanwhile, we expect dividends to increase by 5-9% over the next few years.
Its inventory has skyrocketed by more than 86% in a year. Meanwhile, its strong development pipeline, diverse assets, and solid balance sheet suggest that the company may continue to offer excellent returns over the next few years.
Inerjex Renewable Energy
Inerjex Renewable Energy (TSX: INE) A relatively small player in the green energy field. However, its diverse and young asset base and long-term contracts are well suited to provide strong returns. In addition, its additional acquisitions will accelerate its growth and raise its inventory.
With the remaining weighted life expectancy of the 14.4 year electricity purchase contract, increased production, and a strong development pipeline, Innergex Renewables is expected to provide outstanding revenue and adjusted EBITDA over the next decade. I am. In addition, the company has the potential to increase shareholder returns by increasing dividend payments.
Innergex inventories have risen about 62% in a year, offering a decent yield of 2.5%.
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Stupid contributor Snehanahata There are no positions in any of the listed stocks.
Three Canadian Green Energy Stocks to Buy Now for the Next 10 Years
https://www.fool.ca/2021/01/28/the-3-best-canadian-green-energy-stocks-to-buy-now-for-next-10-years/ Three Canadian Green Energy Stocks to Buy Now for the Next 10 Years