As the world increasingly seeks to move away from fossil fuels amid the climate crisis, innovative new technologies have emerged to harness clean energy.
As renewables have gained momentum, they face the challenge of delivering power reliably when demand is needed most. For example, offshore wind farms that do not operate when there is no strong wind or when they continue to operate when they are already meeting the energy demand of the day pose a dilemma for energy suppliers. energy.
So, technologies or systems that can help with the storage of clean energy are going to be essential in solving this problem.
Ocean Grazer, a Netherlands-based startup, on Thursday showcased its ‘ocean battery’ technology at the ongoing CES 2022 event to show how it can solve this dilemma facing the renewable energy industry.
Ocean battery technology uses flexible and huge bladders located on the ocean floor, in which wind farms fill seawater. During times when energy is needed, the pressure of the ocean helps push the water through the turbine, thus leading to the production of electricity.
Let’s take a look at 2 stocks listed on the FTSE 250 index with exposure to the UK offshore wind sector and explore their investment outlook:
- Greencoat UK Wind PLC (LON: UKW)
Greencoat UK Wind is an investment trust focused on investing in wind, solar and other types of energy infrastructure. It is part of the FTSE 250 index.
Asset management firm Schroders PLC recently acquired a 75 percent stake in UKW investment manager Greencoat Capital.
The group recently raised around £ 450million in gross proceeds from a capital raise and pressure issue. The net proceeds from this transaction are expected to help finance the Burbo Bank Extension offshore wind farm, among other areas.
Image source: Refinitiv
Greencoat shares last traded at GBX 141.00, down 0.98% on January 6.
The company’s market capitalization was £ 3,000.33 million. It has given a 4.44 percent return to shareholders on an annual basis, to date.
Related reading: Top 5 renewable energy actions for 2021
- The Renewable Infrastructures Group (LON: TRIG)
The Renewables Infrastructure Group is an investment company with a diversified portfolio of energy investments, including wind and solar photovoltaic.
The group’s portfolio had the capacity to deliver electricity from clean energy sources to approximately 1.4 million homes, in its sustainability highlights for the six-month period ended June 30, 2021.
The group has a production capacity portfolio of 1,941 MW, compared to 1,820 MW as of December 31, 2020.
Image source: Refinitiv
TRIG stock closed at 133.60 GBX, down 1.04% on January 6. The company’s market capitalization was £ 3,029.04 million. It has given a 4.75 percent return to shareholders on an annual basis, to date.
Tags: ocean battery, renewable energy stocks, The Renewables Infrastructure Group, Greencoat UK Wind, midcap stocks, FTSE 250 index