Renewable Riches: 3 Stocks Harnessing the Power of Green Energy

Core Insights - Global economies are increasingly shifting towards clean energy to meet climate change targets, leading to renewed investor interest in renewable energy companies [1][2] - Investments in clean energy have surged by 40% since 2020, with potential for further growth as government legislation supports the sector [2] Company Summaries Nextracker (NXT) - Nextracker specializes in solar trackers and software solutions, optimizing solar energy generation by following the sun's movements [5] - The company reported Q3'24 revenue of $710.4 million, a 38% year-over-year increase, with adjusted EBITDA rising 168% [6] - Nextracker's debt-to-EBITDA ratio is 0.41, indicating strong debt repayment capability [6] First Solar (FSLR) - First Solar is a leading producer of photovoltaic cells, essential for converting sunlight into electricity [9] - The company experienced a 45% year-over-year increase in net sales in Q1'24, with EPS rising to $2.21, a 452% improvement from the previous year [10][11] - First Solar's debt-to-EBITDA ratio stands at 0.42, reflecting a solid financial position [11] Broadwind (BWEN) - Broadwind manufactures clean tech infrastructure and wind energy equipment components, benefiting from the transition to clean energy [13] - The company reported a 15.1% year-over-year revenue growth in FY'23, reaching $203.5 million, with earnings improving to a profit of 36 cents [14][15] - Broadwind's debt-to-EBITDA ratio is 2, which, while higher than its peers, remains below the accepted threshold of 3, indicating potential for future growth [15]