Skyrocketing energy costs have spurred investment in renewable energy across the world. The U.S. revealed plans to spend $370 billion on new energy provisions through its Inflation Reduction Act , while the European Union’s REPowerEU plan targets 210 billion euros ($221.4 billion) in investment. Companies across the sector are reacting accordingly with plans to replace traditional thermal generators, such as those fed by coal, oil and gas, with renewable energy sources powered by wind, solar and nuclear. The state-backed investments mean the sector is likely to see secular growth over the next one to two decades at least, according to UBS. “The sector as a whole experienced a difficult year in 2022 due to rising rates, and some of this headwind could continue in 2023; but it is worth remembering that in the past good quality utilities have been able to perform even against a backdrop of…
Buy these global clean energy stocks, UBS says, forecasting one to rise 50%
