Three of the most interesting companies in the renewable sector are the often overlooked $AMRC (Ameresco Inc)$SCATC.OL (Scatec ASA) and $GRE.MC (Grenergy Renovables S.A.) - which might profit from the AI hype in the future as major renewable energy project planning companies. All three are in the same sector and have a similar market cap of 1.4 - 2 billion Eur. All of them were founded in the 2000s and all are of intermediate size with 500 to 1500 employees.
The first one, Ameresco, suffered - as a US company - extremely from the trump administration in both potential cutting of (gov) renewable projects and potential tariffs, went down from about 40 to 10 USD in 4 months (Oct 24 to Feb 25). A bottom was formed in April and an extreme rally over three months pushed it back to 40 this month. That went up a bit quick for my taste, so I'm on hold right now (after I sold a bit the past two weeks), but it still has some potential, as the backlog is strong (about 5 billion!!). Revenue is large with approaching 1.5 to 2 millions USD the past years, but reaching also a limit in 23 and 24, so very exciting to know this year's result, which might, but more likely cannot top the best year, 2022...
The second one, Grenergy, a Spanish company has a lower market cap, but not by much - surprisingly, since the company is smaller in most other regards, revenue, workers, backlog, etc. - making it leaner. Still, it's price ramped up quite a lot recently, without a drop back, making me a bit cautious. Unfortunately, I missed the opportunity of buying at around 50 earlier this year. Standing on the side lines, but I'd really love to have this in my portfolio. What is a bit weird: the very low operational costs and the resulting relatively high margin, which is not standard for such companies... The company is mostly involved in Latin America, making it very attractive, since most other comparable companies are involved in other markets. The company grew a lot from less than 100 million Eur in the past years to more than 500 million last year, suggesting way more growth ahead - but I also expect a hiccup at one point, maybe next year.
$SCATC.OL is special in that it is the most stable of the three, after it brutally fell from 300 NOK (2020/21) to less than 100 in 2022. Since then the stock price was relaxing between 70 and 110 NOK, resulting in a yearly high of about 106. It grew a bit slower compared to the other two, but also more steadily from a quarter million Eur in 2020 doubling to a bit more than 400 million in 2024. Well likely see a similar result this year, though with a potential of more net profit. The interesting thing here is that due to the higher stability, scatec might offer a dividend again at some point. While it's a bit too high for me to issue a clear buy, it's for sure worth a look and probably my favorite among the three - finally also because they have a very diverse portfolio with projects in Eastern Europe, Asia and Africa.
At least two of the companies should be in your portfolio when you're interested in renewables. Ameresco is the one with the biggest upside potential, but also the most risky one, being exposed to the US market. Currently, Ameresco and scatec are around equally weighted in my portfolio, so there's potential to cut them and buy into $GRE.MC if it drops at one point.
... Show More
We use our own and third-party cookies on our websites to enhance your experience, analyze traffic, and for security and marketing. For more info, see our Cookie Policy or go to Manage Settings.
Privacy Preference Center
When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.
More information
Manage Consent Preferences
Strictly Necessary Cookies
Always Active
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Cookie List
label
ConsentLeg.Interest
label
label
label
Fri Dec 05 2025 11:06:24 GMT+0000 (Coordinated Universal Time)
