星期四, 十月 22, 2020
Home PV News Solar Stocks Gaining 1000% in Poland Signal Big Change Ahead

Solar Stocks Gaining 1000% in Poland Signal Big Change Ahead

Source:Bloomberg

Solar stocks are on fire in Poland.

Shares of Columbus Energy SA, Novavis SA and 01Cyberaton SA have surged more than a 1,000% in the past 12 months, making them the top performers among Polish smallcaps. Investors have piled into such stocks in anticipation of a surge in demand sparked by a nine-fold increase in Poland’s subsidy for households that want to buy solar panels.

Solar stocks began rallying late last year as Poland announced the subsidy, and got a further boost this month after the program’s budget of 900 million zloty ($237 million) for 2020 far exceeded the amount paid last year. The initiative is part of Poland’s green energy push, as the country is poised to gain the most from the European Union’s $111 billion climate fund. Other stocks in the industry including Photon Energy NV and Sunex SA have also more than doubled in the past year.

“It’s clear that investors are seeking exposure for booming clean energy industry,” Adam Lukojc, head of investments in Allianz TFI mutual fund says by phone. “The real challenge is to verify whether the companies involved have unique technologies that will allow them to maintain margins when competition is set to grow.”

Solar initiatives in Poland in recent years have seen the likes of of Aberdeen Standard Investments and Norges Bank investing in a country traditionally dependent on coal. But not all names have lived up to the hype.

ML System SA tumbled from a one-year high in November after its earnings failed to impress. Lukojc sees state-led utilities eventually becoming the biggest beneficiaries of Poland’s green push, as they have the most capacity to absorb EU funds. Still, the transition away from coal generation may take some time.

The next round of earnings releases may offer investors more clarity on the impact of the government’s initiative on demand. 01Cyberaton reports next month, while figures from Columbus Energy, whose shares have jumped 59% in January alone, are due in March.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Apple data center in Denmark powered by 50 MW of solar

Apple has revealed that its data center in Viborg, Denmark, is now being powered by a 50 MW solar project under a long-term power...

Solar + storage experiment in Tampa Bay selected for Solar Energy Innovation Network project

An innovative solar + storage research project led by the Tampa Bay Regional Planning Council has been selected as a finalist for the Solar...

Chinese PV Industry Brief: 350 MW wind-solar project, 200 MW of floating PV

Longyuan Energy said this week that it has signed an agreement with the municipal authorities in Binzhou, Shandong province, to build 300 MW of solar...

IEEE creates education and credentialing program for interconnecting distributed resources to the grid

IEEE and the IEEE Standards Association (IEEE SA) announced the IEEE Std 1547-2018 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program, a new...