Renewable energy companies start 2021 with support from investors and analysts
Renewable energy companies started the year with the same momentum as in the previous year and with the general support of analysts. Solaria, a value that recently reached the Ibex, shows an increase of around 4%. In the general index, Audax stands out, with a rise of close to 3%, and Soltec Power and Solarpack, which are also up by 5%. Soltec sets a record since its arrival on the continuous market last October, while Solaria was the stock that increased most in 2020. Greenergy, trading at 40 euros per share, is the highest in the market.
In 2021, this performance was much earlier than in previous years. Positions in renewable energies have also been a driving force for electricity companies with the largest share in generation, as in the case of Iberdrola, or in the competitive market for wind turbine manufacturers, as in the case of Siemens Gamesa.
Among other factors, these behaviours have resulted in support from the EU and national governments, not only those of EU countries, for technologies that help the energy transition towards systems that avoid carbon emissions and other pollutants. Energy projects linked to renewable energy will benefit from a high proportion of the funds that the European Union has set aside in the European Recovery Plan for EUR 750 billion in grants and loans to be distributed over the next few years. Biden's imminent arrival at the White House is another factor that favours it.
Spain's Integrated National Energy and Climate (ENCP) Plan, with priority objectives of eliminating greenhouse gas emissions and improving the economy's energy efficiency, plans to mobilise investments worth 241 billion euros between 2021 and 2030. Priority will be given to plans to promote renewables, savings measures, electrification and networks. 80% of these investments will be made by the private sector, and the remaining 20% will be investments by the various public administrations, including European funding.
In this context, analysts estimate that they will add the high liquidity available to specialized funds, as well as other collective investment entities, such as insurance companies, which opt for the sustainability of their investment portfolios.
This is not new, although companies involved in photovoltaic energy are gradually taking on a more prominent role in the world of renewables. The highest growth rates in new generation plans in Spain are reserved for them.
The data show that renewable technologies (wind, solar, hydraulic, among others) produced 43.6% of all electricity in Spain in 2020 and thus record their highest participation in the generation mix since records began (2007), according to Red Eléctrica de España (REE). This is an increase of 6% compared to 2019.