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2 UK renewable energy stocks to buy today


The renewable energy industry seems poised for strong growth in the years ahead. Here in the UK, the market is now projected to grow by around 9% per year by 2030.

Recently, I have been scanning the UK stock market for attractive renewable energy stocks. I would be happy to buy for my portfolio today.

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Top UK renewable energy stocks

A clean energy stock I really like the look Renewable Infrastructure Group (LSE: TRIG). It’s one FTSE 250– Listed investment companies that own a wide portfolio of wind and solar farms across the UK and Europe. Its goal is to preserve the capital value of its investment portfolio as well as provide stable, sustainable returns to investors through dividends.

What I like about TRIG is that it offers a less risky way to play renewable energy themes. In general, clean energy stocks tend to be highly volatile. One reason for this is that many companies operating in this space are not making any money. TRIG is different because it owns a diverse portfolio of assets and is actually profitable. I think it can play an important role in my dividend portfolio and provide long term fixed income.

Zooming in on dividends, TRIG has a great track record of ৷ Over the past five years, it has paid annual dividends of 6.73p, 6.61p, 6.45p, 6.35p, and 6.20p. This year, analysts expect a payout of 6.76p per share. At a current share price of 130p, this equates to a very attractive yield of 5.2%.

One risk to consider here is that the company is trading at a premium of 14% of its net asset value. In other words, those who are investing now are paying more than the sum of the company’s assets.

But I feel comfortable with this risk. Given TRIG’s track record, I think the stock is worth a premium.

An FTSE 100 Clean Energy Stock

Another clean energy company of my choice Johnson Matthew (LSE: JMAT). It’s one FTSE 100 Stocks with a market-cap of about £ 5bn.

The JMAT renewable energy theme is not a ‘pure game’. This is because the company operates in a wide variety of industries, including chemical, pharmaceuticals and electric vehicles.

However, the company has a strong focus on sustainability and recently, it is moving into green hydrogen space. In July, for example, it acquired the assets of Axis Energy Limited, which it believes “Significantly accelerated”Scale up the green hydrogen business.

Like renewable infrastructure, I see JMAT as a low-risk way to play a clean energy theme. It is a large, well-established company that pays profitable and regular dividends (expected yield is about 3%). I think it offers a better risk / reward than some popular clean energy stocks in the UK e.g. ITM Power.

Of course, this is not risk-free. There is no guarantee that the company will move to Green Hydrogen.

However, with a prudent P / E ratio of only 12 trading in the stock, I would be happy to take a small position here.

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Edward Sheldon has no position in any of the shares mentioned. Motley Flower UK has no position on any of the shares mentioned. Opinions about the companies mentioned in this article may differ from those of the author and therefore our official recommendations for subscription services such as Share Advisor, Hidden Winner and Pro. Here at The Motley Fool we believe that considering different range of insights makes us a better investor.





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