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Best renewable energy stocks

These are the best renewable energy stocks to buy now in Canada.

Best Renewable Energy Stocks Jump to List
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Read on for our list of top 5 best renewable energy stocks in Canada right now.

What you should know before buying renewable energy stocks

This list of the best renewable energy stocks in Canada is meant to help you conduct your own research in finding the best renewable energy stocks to buy right now. It is not investment advice. No single stock or list of stocks will suit all investors, and we all have different goals and needs.

Whether you care more about short-term capital gains or long-term dividend growth, it’s important to know whether a stock is performing well, making a profit, paying dividends or going backwards. Always remember that past performance does not guarantee future results. Investments can go up and down in value.

Investing in energy stocks

How did we pick the best renewable energy stocks in Canada?

We used Finder’s proprietary algorithm to identify the best renewable energy stocks listed on the TSX based on price, performance, profit, revenue and dividends. Our fundamental analysis filters stocks by taking into account historical prices, dividends, revenue growth, (low) price volatility and profit margins.

To avoid smaller, more speculative stocks, we only include companies with a market cap of more than CAD $200 million. In order to better compare historical data, we filtered out stocks that have been listed for less than five years.

We do not guarantee the performance or returns of any investment. Our methodology might filter out some good stocks, so our decision to include or exclude a stock from this list does not indicate whether it’s a good or bad investment. For more info about our algorithm, check out our stock ranking page.

The algorithm was last updated 27 January 2021. This list and data was compiled July 8, 2021.

Best Canadian renewable energy stocks to watch in 2022

1: Polaris Infrastructure Inc.

2: Largo Resources Ltd.

3: TransAlta Renewables Inc.

4: Northland Power Inc.

5: Boralex Inc.


Polaris Infrastructure logo

Polaris Infrastructure Inc. (PIF.TO)

Polaris Infrastructure Inc. acquires, develops, and operates renewable energy projects in Latin America.

  • Market cap: C$375.43 million
  • YTD performance: 10.75%
  • 1 Year performance: 54.44%
  • 5 Year performance: 142.19%
  • P/E Ratio: 11.3041
  • Headquarters: Canada
Buy on Interactive Brokers

Largo Resources logo

Largo Resources Ltd. (LGO.TO)

Largo Resources Ltd. (formerly known as Consolidated Kaitone Holdings Ltd.) operates as a natural resource development and exploration company in Brazil and Canada. It explores for vanadium, iron, tungsten, and molybdenum deposits.

  • Market cap: C$1.272 billion
  • YTD performance: 42.75%
  • 1 Year performance: 129.07%
  • 5 Year performance: 140%
  • P/E Ratio: 143.80
  • Headquarters: Canada
Buy on Interactive Brokers

TransAlta Renewables logo

TransAlta Renewables Inc. (RNW.TO)

TransAlta Renewables Inc. develops, owns, and operates renewable power generation facilities.

  • Market cap: C$5.56 billion
  • YTD performance: -1.77%
  • 1 Year performance: 52.92%
  • 5 Year performance: 118.36%
  • P/E Ratio: 39.3019
  • Headquarters: Canada
Buy on Interactive Brokers

Northland Power logo

Northland Power Inc. (NPI.TO)

Northland Power Inc., an independent power producer, develops, builds, owns, and operates clean and green power projects in North America, Europe, Latin America, and Asia. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

  • Market cap: C$9.671 billion
  • YTD performance: -5.93%
  • 1 Year performance: 25.61%
  • 5 Year performance: 44%
  • P/E Ratio: 35.95
  • Headquarters: Canada
Buy on Interactive Brokers

Boralex logo

Boralex Inc. (BLX.TO)

Boralex Inc., together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, the United Kingdom, and the United States.

  • Market cap: C$3.955 billion
  • YTD performance: -18.42%
  • 1 Year performance: 18.77%
  • 5 Year performance: 56%
  • P/E Ratio: 82.70
  • Headquarters: Canada
Buy on Interactive Brokers

Buy renewable energy stocks through an online broker

To invest in any of these stocks, you’ll need a brokerage account. Compare online stock trading platforms below and click “Go to site” to get started.

1 - 5 of 5
Name Product Finder Rating Stock Trading Fee Account Fee Available Asset Types Offer
Interactive Brokers
Finder Rating:
★★★★★
4.1 / 5
min $1.00, max 0.5%
$0
Stocks, Bonds, Options, ETFs, Currencies, Futures
FREE TRADES
National Bank Direct Brokerage
Finder Rating:
★★★★★
4.1 / 5
$0
$0 if conditions met, or $100
Stocks, Bonds, Options, Mutual Funds, GICs
$0 commission on all transactions for Finder investors.
Questrade
Finder Rating:
★★★★★
4.2 / 5
$4.95 - $9.95
$0
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
Get $50 in free trades when you fund your account with a minimum of $1,000.
FREE TRADES
Wealthsimple
Finder Rating:
★★★★★
3.9 / 5
$0
$0
Stocks, ETFs
Get $25 when you open a Wealthsimple account and fund at least $150.
OFFER
Qtrade Direct Investing
Finder Rating:
★★★★★
4.1 / 5
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
Get up to $2,000 cashback + a $50 bonus on sign up. Use promo code CASHBONUS2023. Conditions apply. Ends March 1, 2023.
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Bottom line

ESG investing continues to gain popularity, and investing in renewable energy is not just a good way to align your investments with your values. With companies like Lucid Motors reaching astronomical valuations, green energy companies are on the rise. Our top 5 Canadian renewable energy picks are companies that own, operate and/or develop green power facilities and renewable energy projects.

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