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2 Revolutionary Canadian Clean Energy Stocks to Power Your Portfolio

A solar cell panel generates power in a country mountain landscape.
Source: Getty Images

Written by Adam Othman at The Motley Fool Canada

Climate change is becoming increasingly problematic, prompting the need to focus on reducing emissions worldwide. As governments worldwide shift policies to push for a cleaner future, it is no secret that the energy sector’s future is green. While fossil fuels will eventually run out, adopting cleaner and sustainable alternatives is the only way to fight off climate change.

The green revolution is already underway. If you want exposure to several top stocks in the Canadian stock market, you can consider investing in clean energy right now. Investing in the right renewable energy stocks can set you up for substantial long-term gains. Besides capital gains, these stocks can deliver further wealth growth through solid shareholder dividends.


Today, I will discuss two major clean energy stocks to consider adding to your self-directed portfolio if you want to become part of the green revolution.

Brookfield Renewable Partners

Brookfield Renewable Partners (TSX:BEP.UN) is a no-brainer for many investors interested in the renewable energy industry. The $19.20 billion market capitalization giant is one of the most well-capitalized green energy stocks worldwide right now.

Boasting an extensive and internationally diversified portfolio of green energy assets, Brookfield Renewable Partners stock is a must-have growth and passive-income stock.

Boasting over almost 26,000 megawatts (MW) of operating capacity across wind, solar, and hydroelectric facilities, it has 126,000 MW of projects in development right now.

With its diversified and long-life assets, the company generates substantial cash flows, enhancing shareholder value consistently. Between its growing portfolio and long-term contracted assets, it will most likely continue being a major player in the green energy industry.

As of this writing, Brookfield Renewable Partners stock trades for $42.67 per share and boasts a 4.47% annualized forward dividend yield.

Northland Power

Northland Power (TSX:NPI) is a $7.37 billion market capitalization power producer that develops, builds, owns, and operates clean and green energy assets worldwide.

The Toronto-based company is also a substantial force in the clean energy industry. With an economic interest in around three gigawatts (GW) of operating capacity, the company continues to expand its portfolio through strategic acquisitions to increase shareholder value.

Northland Power also relies on long-term contracts with governments for a majority of its revenue. Its strong geographical diversification, solid capital investment plans, and strategic acquisitions will likely continue fueling its growth.

It currently has 20 GW of projects in the development pipeline right now. As of this writing, Northland Power stock trades for $29.29 per share and boasts a 4.10% dividend yield you can lock into your portfolio today.

Foolish takeaway

With several renewable energy stocks, investors get the potential for substantial capital gains and dividend income. Backed by long-term power-purchase agreements in a regulated industry, top clean energy stocks can generate predictable and stable cash flows to support expansion and dividend payouts.

To this end, Brookfield Renewable Partners stock and Northland Power stock can be two excellent investments to consider.

The post 2 Revolutionary Canadian Clean Energy Stocks to Power Your Portfolio appeared first on The Motley Fool Canada.

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Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy.