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The Green Revolution
In the 1970’s, it was discovered that the Ozone layer was being depleted by man-made chemicals. Since then, world awareness of the human impact on our planet has grown more and more. The European Union has committed itself to achieve carbon neutrality with its European 2050 roadmap, which took form in the European 2050 Climate Law. This means that it has pledged to reduce carbon emissions to the point where they meet a balance with the carbon absorbers – soil, forests, and oceans – in the world. Global sentiment has become committed to environmental responsibility. This, in turn, has given rise to giant renewable energy companies like Orsted, Siemans Gamesa, JinkoSolar, Bloom energy, and Iberdrola, which have sprung up to lead the way towards a cleaner, greener future for commercial enterprise. Not only have they succeeded in making an environmental impact, but they show signs of great growth potential as businesses.
This enormous Denmark-based company supplies green power to 15 million people in the world. In 2008, they underwent the process of converting their coal and gas fired power stations to work on sustainable biomass, and in 2016 they were listed on the stock exchange as one of the world’s fastest growing energy groups.
In terms of market performance, Orsted has outperformed the S&P 500 from 2018 to 2020. Its market cap expanded by 140% during that time. Q1 of 2021 saw a lag in financial performance, but this was mostly viewed as a hiccup. Another challenge the company has recently had to overcome has been its cable protection issues. These will cost approximately DKK3 billion to resolve. In early June, its share price dropped significantly but then made a comeback by the end of the month.
Orsted has established important international partnerships in Japan, Korea, Norway, and Scotland. They have also been awarded a 1.148 MW offshore wind contract in New Jersey. The bounty of their awarded offshore projects and the success of their offshore wind facilities makes Orsted a renewable company to watch on the European 2050 roadmap. Orsted’s capable CEO, Mads Nippers, says he’s determined to take ‘Decisive action now to stop climate change and create a better tomorrow’.
CEO KR Sridhar runs a company that utilizes the very latest technology to combine clean energy sources. He says his moral commitment comes from his recognition that ‘The climate cannot sustain the status quo’. His message seems to have been heard, since 25 of the Fortune 100 companies are Bloom customers. Other Bloom energy customers include leaders in the healthcare, financial services, and retail industries. Sridhar can be proud that the Bloom energy solid oxide fuel cell is the highest efficiency electricity generating device in the world. It uses natural gas, biogas, and hydrogen as fuel to produce power, so that its emissions are not smog-forming. In 2020, Bloom launched an ambitious biogas to electricity project in India to deliver clean power to Indian businesses.
By Q1 2021, Bloom energy sales had risen by 24% year-on-year. After the company announced Q2 results, shares fell by 2.39%, but Q2 share prices were still up 84.15% over Q1. The projects undertaken by Bloom energy are ambitious and their technology is high quality, which makes this a company for traders to keep an eye on.
This high-flying company is a huge producer of onshore and offshore wind power. Iberdrola produces hydroelectric energy, photovoltaic solar energy, green hydrogen energy, and its power plants can convert thermal energy into electricity. The environmental impact of this kind of electricity is much reduced in comparison to traditional methods. CEO Ignacio Galan, who is a qualified industrial engineer, is unrelenting in his insistence that ‘To reach the zero-emissions target you need systems that emit zero’. Iberdrola’s Q1 2021 performance exceeded expectations, with net profit up 12%. When Q2 had reached its end, net profit in the first half of the year had marked an increase of 84%.
Among Iberdrola’s ambitious projects is the creation of smart grids, which integrate user behaviour into their performance. This approach is anticipated to boost both sustainability and the security of supply. They are also exploring the electrification of transportation, building, and industry. In short, their vision and ambition are far from reaching their end and seem destined to earn them greater exposure in the years ahead.
Will the future be even greener?
The green energy sector is growing ever more popular. The plans, projects, and technology of green giants like Bloom energy, Orsted, and Iberdrola will continue to make the world stop and take notice. Stay up to date with share prices on a mobile CFD share trading app so you can always be ready when opportunities arise. Many CFD share trading apps come with built-in charts and analysis tools to help keep you informed and insightful on-the-go, so if you’re focused on the European 2050 roadmap from a financial angle, you’ll always be up to date.
This article does not necessarily reflect the opinions of the editors or the management of EconoTimes