Renewable Weekly – 22 April 2024

This week, we're taking a closer look at Ørsted. Despite challenges in the last few years, we now argue Ørsted is back on the right path. We rate the stock a BUY, and set a 12-month TP of DKK 450/sh.

Renewable Weekly – 12 April 2024

This week , we provide some insight into the marginal pricing of electricity markets in Europe, as well as calculation details and a simple calculator where investors can enter their own assumptions.

Renewable Weekly – 4 April 2024

This week, we take a look at cost developments in the offshore wind supply chain.

Renewable Weekly – 27 March 2024

Of our basket of 41 stocks, returns were positive for 33 and negative for 8 over the week. Median performance 4.1%, average 9.9%. Sub-sectors: Wind (3%), Solar (7%), Hydrogen (7%), Cleantech/other (2%).

Renewable Weekly - ​21 March 2024

This week we highlight the offshore wind auction for Sørlige Nordsjø II (SNII). The winning bid was from the consortium Ventyr (Parkwind and Ingka Investments) at a price of NOK 1.15/kWh.

Renewable Weekly – 11 March 2024

This week, we take a look at the new rules for deposit return systems in EU, following a provisional political agreement between the European Council and European Parliament representatives last week.

Renewable Weekly – 4 March 2024

On aggregate, the R&Ct stocks underperformed MSCI Nordic by ~13% throughout the season (26 Jan to 4 Mar)

Renewable Weekly – 27 February 2024

This week, we would like to highlight one of our key long ideas in the sector: Volue (BUY, TP 31.5), which is a Norwegian technology company.

Renewable Weekly – 19 February 2024

This week, we summarise the key takeaways from the Nordic Renewables & Cleantech companies that have reported Q4 figures so far.

Positive outlook on '24 activity

Strong close to '23 with Q4 EBIT of SEK 99m (ABGSCe 50m). Expecting good project sales activity during '24e. Only minor estimate changes, keep value range of SEK 110-150.

Longer than normal sales cycles

Good Q4 to cap great 2023. Concern over longer sales cycles cuts '24e-'25e EBIT by 23%/12%. Fair value range lowered to SEK 110-150 (120-170).

Renewable Weekly – 10 December 2023

Of our basket of 42 stocks, returns were positive for 27 and negative for 15 for the week. Median performance +2.7%, average +3.5%. Sub-sectors: Wind (+4%), Solar (+2%), Hydrogen (+4%), Cleantech/other (+4%).

Renewable Weekly – 3 December 2023

Of our basket of 42 stocks, returns were positive for 27 and negative for 15 for the week. Median performance +0.8%, average +2.2%. Sub-sectors: Wind (+1%), Solar (+6%), Hydrogen (+2%), Cleantech/other (+1%).

Renewable Weekly – 26 November 2023

This week we focus on the rapid development of wind turbine size.

Renewable Weekly – 19 November 2023

On aggregate, the R&Ct stocks underperformed MSCI Nordic by ~9% throughout the season (10 Jul to 29 Aug), i.e. before the Orsted warning.

Renewable Weekly – 12 November 2023

This week, we highlight our upgrade of the Bonheur share to BUY (Hold) from Monday.

Renewable Weekly – 3 November 2023

This week, we highlight our upgrade of the Bonheur share to BUY (Hold) from Monday.

Renewable Weekly – 27 October 2023

This week, we summarise the key take-aways from Nordic Renewables & Cleantech companies that have reported so far during Q3.

Renewable Weekly – 20 October 2023

Q3 boosted by arbitration award

Q3'23 report due on 17 November. We expect Q3'23 EBIT of SEK 134m. Maintain our value range of SEK 120-170.